A comparison of April 2016 and April 2015 data shows:
- New listings decreased 1.7 percent (4,297 in April 2016 versus 4,370 in April 2015);
- Closed sales increased 6.8 percent (2,244 in April 2016 versus 2,102 in April 2015);
- Average sales price increased 3.4 percent ($184,000 in April 2016 versus $178,000 in April 2015); and
- Months' supply of inventory was six months in April 2016 versus nine months in April 2015.
"With mortgage rates remaining low, buyers may be in the best position now to purchase a home," said Croushore. "Before even choosing a real estate agent and looking for a home, buyers should have a mortgage pre-approval letter in hand, which could give them a negotiating advantage over other buyers."
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/.
Kristen Laney O'Toole
Maegen Laney Noble
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/healthy-market-for-home-sellers-and-buyers-300276056.html
SOURCE West Penn Multi-List, Inc.