2017-Year End Real Estate Update
All of us at The Jim Dolanch Real Estate Team would like to wish you all a very happy 2018 new year! If you’ve made any New Years Resolutions this year hopefully you’ve been sticking to them. Maybe one of our most recent blogs- So You Want To Be A Homeowner in 2018? rang true for you, and you decided that you do want to become a homeowner in 2018. If that’s the case, then you’re probably curious about how the Pittsburgh real estate market did and how the national market did as well. Here we’ll discuss both the Pittsburgh Real Estate Market and the national real estate markets. However, keep in mind that these statistics are NOT predictions for the 2018 real estate market, just statistics from the end of 2017.
South Hills of Pittsburgh VS. Pittsburgh Real Estate News:
With our last real estate update, Cecil Township saw a big increase in average sold price, and it kept that ranking all the way to the end of the year. Cecil Township also gets the prize for the biggest increase in sold listings, while it was the Bethel Park area for our last update. However, inventory remains low in all of these greater Pittsburgh areas, except North Strabane.
So how do these South Hills areas of Pittsburgh statistics compare to the city of Pittsburgh? According to realtor.com:
- Median Listing Price: $175,000
- Price/square foot: $69,000
- Median Closing Price: $160,000
- 3,458 Homes For Sale
- 1,233 Homes For Rent
Some notable statistics for Pittsburgh area neighborhoods are that Penn Hills has the most homes for sale at 229 while the SouthSide Flats has the most homes for rent at 56. Inventory is low in Blackridge, which only has 8 homes for say and Troy Hill, which also only has 8 homes for sale.
National Real Estate Statistics:
- According to the National Association of Realtors, home sales increased 5.6% in November from the previous month.
- That is up 3.8% from last year and the strongest since December 2006!
- Median sales price is up 5.8% from last year at $248,000
- Active listings are at 1.67 million
- Down 9.7% from last year
- November 2017’s average days on the market is 40 days.
Still confused about these statistics or wondering how they impact you? Contact any on 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,