Greater Pittsburgh home sales up over last year

December was a strong month for the Greater Pittsburgh housing market, according to the year-end Remax National Housing Report .

The month saw growth in overall sales, a boost in the median sales price and stabilization of months supply, according to the December 2017 housing report.

The national report studies multiple listing service, or MLS, data from 54 metropolitan areas. Greater Pittsburgh includes Allegheny, Westmoreland, Washington and Beaver counties.

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Pittsburgh, Pennsylvania.

Year-over-year highlights for the region (from December 2016 to December 2017) include home sales up by 3 percent, median sales price up by 1 percent (at $147,225), average days on market down by three days and months supply at 5.8 months (6 months is considered balanced).

Months supply of inventory is the total number of residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed during the month.

In Westmoreland County, home sales were down by 12.8 percent from December 2016 (296) to December 2017 (258), the median sales price — $132,950 — was down by 2.8 percent compared to last year and average days on market was down by 14 days.

In Allegheny County, home sales were up by 8.8 percent from December 2016 (1,117) to December 2017 (1,193), the median sales price — $150,000 — was up by 0.3 percent compared to last year and average days on market was down by 1 day.

Tribune Content Agency
Purchase Home prices Real estate Pennsylvania
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