I hope you had a wonderful summer, for real estate in Pittsburgh it was a bit of a mixed message. Like most of the country prices have continued to climb, but with inventory so low, buyer's are struggling to find homes that they want. Since last August we have seen a 4.7% increase in the median sale price, but a 24.8% decrease in the number of sales. As always, good homes, that are priced right, get snapped up quickly, some are even getting multiple offers, which explains the rise in prices. On the flip side, it has become increasingly common for buyer's to get discouraged and put off a purchase altogether. What's the take away? If you have been thinking of selling, now is a good time to be in the market, particularly if your home is around the median home price in our area, where the lack of inventory is most pronounced. For buyer's, it means that your search may take longer than you expected and that you need to be preapproved and ready to make an offer when a house you like comes on the market, because it may not be there long. I hope everyone has a great fall, my favorite time of the year, and give me a call if you are looking to buy or sell a home.
Buying or Selling a home in Pittsburgh? Call Christa Ross from RE/MAX Select Realty, at 724-933-6300 x214 (office) or 724-309-1758 (direct) or visit my website at www.bestpittsburghhomes.com.