Western Pa. Enjoys Healthy Housing Market

PITTSBURGH, June 22, 2018 /PRNewswire/ -- The housing market in Western Pa. has enjoyed a fruitful spring season. Home sales and sale prices are up compared to last year at this time, according to West Penn Multi-List, Inc. and its monthly residential real estate report.

"As we head into summer, the market is well positioned for even more growth with additional listings hopefully becoming available," said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. "Business continues to flourish, and houses are selling very quickly."

When comparing January-May 2018 with the same time period in 2017:

• Closed sales are up 1.08 percent (10,597 units in 2018 versus 10,484 in 2017);
• Closed sales volume is up 9.37 percent ($1,975,005,278 in 2018 versus $1,805,869,000 in 2017);
• Average sale price is up 8.20 percent ($186,374 in 2018 versus $172,250 in 2017); and
• Home listings are down 4.86 percent (16,755 units in 2018 versus 17,610 in 2017).

"This is prime time for residential real estate transactions," said Hackett. "Summer is historically our best season, and we anticipate the same this year."

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/.

CONTACT: Maegen Laney Noble
[email protected] 
904-451-2644

Kristen Laney O'Toole
[email protected]  
412-327-2907

SOURCE West Penn Multi-List, Inc.