Southwestern Pennsylvania Home Sales Rise in November

PITTSBURGH, Dec. 5, 2011 /PRNewswire/ -- Residential homes placed under agreement in Southwestern Pennsylvania increased 17.93 percent in November 2011 versus November 2010 (2,591 homes versus 2,197), according to the November real estate report from West Penn Multi-List, Inc., the Pittsburgh area's definitive source for real estate information for its 13-county service area.

"The Southwestern Pennsylvania area has been posting double-digit increases in home sales consistently over the past several months, with sales up across virtually all counties," said Ron Croushore, current president of the West Penn Multi-List, Inc. and president/owner of Prudential Preferred Realty. "We hope to see this positive trend continue into 2012."  

Some of the county-specific increases in the number of homes placed under agreement in November 2011 versus November 2010 were notable. 

• Allegheny County:  10.41 percent increase (1,304 homes versus 1,181)
• Beaver County:  16.54 percent increase (148 homes versus 127)
• Butler County: 21.35 percent increase (216 homes versus 178)
• Washington County: 56.67 percent increase (235 homes versus 150)
• Westmoreland County:  13.67 percent increase (341 homes versus 300)

In contrast, new listings were down 4.02 percent in November 2011 versus November 2010 (2,147 homes in November 2011 versus 2,237 homes in November 2010), and year-to-date new listings were down 6.22 percent (34,356 homes in January through November 2011 versus 36,636 homes for the same period of 2010). 

"The Southwestern Pennsylvania home market, overall, has fared better than other regions of the country, and we expect that to continue into 2012," Croushore said.  "Low interest rates continue to entice home buyers, and the lower inventory and increasing average sale prices should encourage home sellers.  Contacting a real estate agent before buying or selling is a smart first step in the real estate process."      

Year to date, the number of homes placed under agreement is similar to last year, down 1.20 percent versus the same time in 2010 (31,572 homes January through November 2011 versus 31,956 homes in the same period of 2010). Additionally, the year-to-date average price of homes sold is up 4.10 percent ($157,022 in January through November 2011 versus $150,840 in the same period of 2010).  

These numbers represent the 13-county area serviced by the West Penn Multi-List, Inc. (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.