The residential real estate market in Western Pa. shows signs of growth compared to last year at this time, according to the West Penn Multi-List, Inc. and its monthly residential real estate report.
"When looking at year-to-date data compared with last year, all major sales indicators have increased," saidRon Croushore, current president of West Penn Multi-List, Inc., and owner and CEO of Berkshire Hathaway Home Services The Preferred Realty, Pittsburgh. "It is still a great time to buy or sell a house," said Croushore.
When comparing January-July 2016 with the same time period in 2015:
- Closed sales are up 2.2 percent (13,509 units in 2016 versus 13,218 in 2015);
- Closed sales volume is up 2.9 percent ($2,544,663,312 in 2016 versus $2,474,250,984 in 2015);
- Average sales price is up 0.6 percent ($188,368 in 2016 versus $187,188 in 2015); and
- New listings are up 3.3 percent (21,877 units in 2016 versus 21,173 in 2015).
"The market is stronger than it was last year at this time, so that is great news for residential real estate as we head into the second half of the year," said Croushore.
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 http://www.westpennmls.com/.
