PITTSBURGH, Oct. 3, 2016 /PRNewswire/ -- The residential real estate market in Western Pa. is holding strong compared to last year at this time, according to the West Penn Multi-List, Inc. and its monthly residential real estate report.
"Late-summer doldrums did not set in as we continued to experience strong sales through August," said Ron Croushore, current president of West Penn Multi-List, Inc., and owner and CEO of Berkshire Hathaway Home Services The Preferred Realty, Pittsburgh.
When comparing January-August 2016 with the same time period in 2015:
- Closed sales are up 1.45 percent (16,333 units in 2016 versus 16,100 in 2015);
- Closed sales volume is up 1.24 percent ($3,047,682,482 in 2016 versus $3,010,299,101 in 2015);
- Average sales price is up 0.04 percent ($187,111 in 2016 versus $187,039 in 2015); and
- New listings are up 2.07 percent (25,733 units in 2016 versus 25,211 in 2015).
"I am pleased to see this level of real estate activity, and I encourage potential sellers to explore the market now, while inventory is slightly tight," Croushore said.
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
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SOURCE West Penn Multi-List, Inc.