PITTSBURGH, Feb. 2, 2017 /PRNewswire/ -- Real estate professionals are as busy as ever and optimistic about the immediate future. According to the West Penn Multi-List, Inc. and its monthly residential real estate report, both home sales and sale prices were up in 2016, and are poised to continue in that direction into 2017 as well.
"With lower unemployment rates and improved wages, we continue to be optimistic about the 2017 housing market," said Ron Croushore, current president of West Penn Multi-List, Inc., and owner and CEO of Berkshire Hathaway HomeServices The Preferred Realty, Pittsburgh.
Most of the months of 2016 offered similar monthly housing market highlights, resulting in positive statistics for 2016 as a whole, as compared to 2015:
- Closed sales are up 4.88 percent (27,974 units in 2016 versus 26,673 in 2015);
- Closed sales volume is up 3.65 percent ($4,689,032,331 in 2016 versus $4,523,965,417 in 2015);
- Average sale price is up 2.30 percent ($179,713 in 2016 versus $175,677 in 2015); and
- New listings are up 0.07 percent (37,749 units in 2016 versus 37,724 in 2015).
"The opportunities for real estate agents and consumers to achieve their goals far exceed the strength of market challenges such as higher competition for fewer properties," said Croushore.
Statistical data in this report is supplied by West Penn Multi-List, Inc., the definitive source for real estate information for its 17-county service area – Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Fayette, Greene, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango, Washington and Westmoreland counties. For more information, visit http://www.westpennmls.com/.
CONTACT: Maegen Laney Noble
Kristen Laney O'Toole
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SOURCE West Penn Multi-List, Inc.