We hope we kept you busy last month with our March events blog! Since it’s already April, don’t forget to check out our April events blog as well! Though it doesn’t quite feel like it yet, the Spring Real Estate Market has officially hit! This is usually our busiest time of year! Some of you may have been waiting to put your home on the market or look for a new home because of this fact. But before you do, let’s look back and see how the start of the Spring Real Estate Market did in March 2018.

South Hills of Pittsburgh VS. Pittsburgh Real Estate News:

For the December 2018 real estate update, Cecil Township was the hottest market. For the January 2018 real estate update, Bethel Park was the hottest with the biggest increase in just sold listings. Last month in the February 2018 real estate update, North Strabane took the prize for the hottest real estate market with the most sold listings and the biggest increase in average sold price! So, who will it be this month? These charts, with information gathered from the West Penn Multilist, it looks like EVERY area saw a huge increase in sold listings! Upper St. Clair, however, saw the biggest increase in sold listings, an increase in sold price and a decrease in the average days on the market so we’re declaring Upper St. Clair as the hottest market for March 2018!

So how do these South Hills areas of Pittsburgh statistics compare to the city of Pittsburgh? According to realtor.com:

  • Median Listing Price: $170,000 (up from $165,000 last month)
  • 3,844 homes for sale (slight increase from 3.688 last month)
  • 571 homes for rent (increase from 344 last month)

The Penn Hills area of Pittsburgh still remains the leader at the most homes for sale with 190, slightly increasing from last month. While the South Side Flats had the most homes for rent last month, the South Side Slopes has the most homes for rent this month at 69.

National Real Estate Statistics:

  • According to our source, Millennials account for most of the sales activity by 36%, followed closely by the Baby Boomers with 32%.
  • February 2018 sales are up 3.0% from the previous month.
    • Which is up 1.1% from the previous year.
  • Median sales price for the national real estate industry is $241,700
    • This is up 5.9% from the previous year!
      • The areas of Bethel Park, Cecil, and North Strabane in the charts above fall around this average sold price range!
  • Active listings have decrease by 8.1% from last year.
  • Average days on Market is 37.
  • Home Price Growth has increased 4.2% since 2017!

Still confused about these statistics or wondering how they impact you? Contact any one of us from The Jim Dolanch Real Estate Team and we’d be happy to explain them in further detail. If you’re thinking of buying or selling your home in the next few months, don’t hesitate to contact us; our cutting-edge marketing campaigns sets us apart from the rest!

Questions or Concerns? We Can Help!

As you can see, whether you’re looking sell a Pittsburgh area home or buy a home in the Pittsburgh real estate market this fall or winter 2017, we can assist! Don’t hesitate to contact us to get started by calling the office at 724-941-8680 or calling/texting directly at 724-288-8800.

Until Next Time,

Jim