Western Pa. Has Homes for the Holidays

PITTSBURGH, Nov. 22, 2017 /PRNewswire/ — According to West Penn Multi-List, Inc. and its monthly residential real estate report, the local housing market continues to show strong activity. All key indicators have been on the rise for the past three months.

“Those looking to buy or sell a home in Western Pa. this holiday season will experience favorable market conditions,” said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. “Housing choices during late fall are generally healthy, and there are benefits to buying at year’s end.”

When comparing January-October 2017 with the same time period in 2016:

• Closed sales are up 2.96 percent (24,045 units in 2017 versus 23,353 in 2016);
• Closed sales volume is up 6.05 percent ($4,398,720,165 in 2017 versus $4,147,889,801 in 2016);
• Average sale price is up 3.00 percent ($182,937 in 2017 versus $177,617 in 2016); and
• Home listings are up 0.64 percent (29,001 units in 2017 versus 28,816 in 2016).

“This time of year offers great opportunities for buying a home, especially for renters looking to buy, growing families needing a larger home and baby boomers looking for homes to fit their changing lifestyle,” said Hackett.

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 https://www.westpennmls.com/.