December 2017 Real Estate Update
Once again we hope your December 2017 is off to a great start! We know how busy this time of year can get during the holiday season. The days might be shorter, and the weather colder, but that doesn’t mean the real estate industry is slowing down! If you’re considering selling your home during this time of year, now is still a great time to do so! But first, take a look at how some areas in the greater Pittsburgh area are doing and how the city of Pittsburgh overall are doing n the real estate industry.
South Hills of Pittsburgh VS. Pittsburgh Real Estate News:
With last month’s update Bethel Park was the only area that saw an increase in sold listings. However, from October 2017 to November 2017, it looks like Peters Township saw the biggest increase in sold listings! While last month’s update had Cecil Township seeing the biggest increase in sold price, it looks like Upper St. Clair, and North Strabane saw the big increases in average sold price from October 2017 to November 2017.
So how do these South Hills areas of Pittsburgh statistics compare to the city of Pittsburgh? According to the Pittsburgh Business Times and the Pennsylvania Association of Realtors, home sales, sale prices, AND homeownership have increased in Pittsburgh!
- Compared to January-October 2016, home sales increased 2.96%.
- Average sold price increased 3% from 2016.
- Home listings increased in Pittsburgh .64%.
- Homeownership in Pittsburgh is 74%, increased 7.2% in the last 3 years!
The only negative that ahs been reported for Pittsburgh Real Estate Statistics is that the median home price is at $174,950, which is “significantly below the national average” according to the Pennsylvania Association of Realtors.
National Real Estate Statistics:
- According to the National Association of Realtors, home sales increased to 5.4 million from last month.
- Median home price decreased to $245,000 from $254,000 last month.
- However, that is up 4.2% from November 2016.
- Average 30-year fixed mortgage rate is up to 3.88% from last month’s 3.83%.
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,