PITTSBURGH, Sept. 26, 2018 /PRNewswire/ -- Home sales, sale price and the demand for homes continue on an upward slope, according to West Penn Multi-List, Inc. and its monthly residential real estate report.
"People want to live in Pittsburgh, and the housing market is thriving right now," said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. "With nearly 25,000 new listings on the market so far this year, there are still many homes from which buyers may choose."
When comparing January-August 2018 with the same time period in 2017:
- Closed sales are up 3.58 percent (19,778 units in 2018 versus 19,095 in 2017);
- Closed sales volume is up 11.58 percent ($3,863,118,072 in 2018 versus $3,462,229,020 in 2017);
- Average sale price is up 7.73 percent ($195,324 in 2018 versus $181,316 in 2017); and
- Home listings are down 2.88 percent (24,928 units in 2018 versus 25,668 in 2017).
"Pittsburgh is among those cities where you can have the lifestyle you desire without breaking the bank," said Hackett. "Our region has a relatively low cost of living, attractive career opportunities and it's rich with culture and history."
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
SOURCE West Penn Multi-List, Inc.