Southwestern Pennsylvania Real Estate Market Comes Alive in April
PITTSBURGH, May 4, 2012 /PRNewswire/ -- All major indicators of the health of the residential real estate market in Southwestern Pennsylvania are moving in a positive direction, according to the April housing statistics from the West Penn Multi-List, Inc.
In Southwestern Pennsylvania, the number of new listings and number of homes placed under agreement both have increased, and average home sale price also showed improvement in April 2012 versus the same month last year.
A comparison of April 2012 to April 2011 data for the 13-county region served by the West Penn Multi-List shows residential homes placed under agreement increased 23.99 percent (3,938 homes versus 3,176). New listings increased 5.18 percent (3,820 homes versus 3,632), while average home sale price increased 10.21 percent ($161,474 versus $146,517).
"The residential real estate market has come alive this spring," said Ron Croushore, current president of the West Penn Multi-List, Inc., and president/owner of Prudential Preferred Realty in Pittsburgh. "We're thrilled to see improvements in listings, sales and average price in April."
What's more, the first four months of 2012 are tracking ahead of the same period in 2011, with improvements posted in the number of homes under agreement, new listings and average sale price: the number of homes placed under agreement increased 19.01 percent (12,432 homes versus 10,446); new listings increased 5.22 percent (12,648 homes versus 12,021); and average home sale price increased 4.12 percent ($152,865 versus $146,812).
"People should be very encouraged by this data," Croushore said. "Whether you're considering buying, selling or both, now is a good time to enter the real estate market in our region. We anticipate an active market through the summer months."
Croushore continued: "With sales outpacing new listings, the need for more inventory, coupled with the increasing average sale price, should incentivize potential sellers to list their homes for sale now. If you're interested in taking the real estate plunge, contact a real estate agent soon."
These numbers represent the 13-county area serviced by the West Penn Multi-List, Inc., the definitive source for real estate information for its service area -- Allegheny, Armstrong, Beaver, Butler, Washington, Westmoreland, Fayette, Greene, Clarion, Lawrence, Mercer, Somerset and Indiana Counties.
The West Penn Multi-List, Inc. is committed to providing the most innovative and cost-effective multiple-listing services to its broker subscribers. The West Penn Multi-List, Inc. provides state-of-the-art programs for the benefit of its brokers and their agents. These programs are offered to stay current with advancing technology and enhance the professionalism of the brokers and their agents, which results in unparalleled service to their customers. The West Penn Multi-List, Inc. strives to protect the integrity of the data while recognizing that the data is the exclusive property of the broker. For more information, visit www.westpennmls.com.
CONTACT: Kristen Laney
[email protected]
412-327-2907
SOURCE West Penn Multi-List, Inc.
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