Your Greater Pittsburgh Real Estate Market Report - HOT OFF THE PRESS — Nick Supik

June Market Report 2026

May 2026 vs May 2025

these number are so fresh & will adjust some

Average Sold Price Increased 6+%
Number of Homes Sold Decreased 75
Average Days On Market Increased 4 day

(These are lagging numbers. When a home sells now the contract actually happened 30 - 60 days ago.)

HELLO - There were about 3% less homes sold in May 2026 compared to May 2025, this number will grow another 20-50 homes as more reporting comes in, but still off from last year. Is it the rates, the economy, the war, the weather or is this the new normal as we always like to come up with. April definitely seemed off now May is off some too but is fighting to come back some. We haven’t been carrying any momentum from prior months. The interest rates are hoovering in the mid to high 6% range for a 30 year mortgage. There has been consistent international news taking place and this could be part of the slower markets. Last year I kept saying “It was going to be a breakout year.” It did not materialize in any big way and if I am going to be completely honest, I don’t have any idea what the market is going to do moving forward.

MARKETS ARE UP & MARKETS ARE DOWN - You can count on one thing, markets will change. It does make sense though even though home inventories are increasing we are STILL in a lower home inventory season overall compared to the last 10-20 years, with that, prices should remain on the stronger side, its the law of supply and demand. There are never ending reasons to NOT buy or sell a home. Then there were 2350+ reasons someone did a real estate transaction in May. It is debatable if the overall economy is healthy or if a recession is coming or inflation is going to come roaring back, interest rates rise or drop, let’s leave it to the pundits to talk about. I am confident that if you want to buy a home or sell a home, their is a market for you.

It really seems over the long run interest rates are going to come down. We want to know how soon and how much?.?….Hoping for Low 5% or high 4s :), not confident in seeing this anytime soon.

Sellers - Now is not a good time to test higher prices, with prices were gradually pulling back, and days on market is increasing, you need to price it tight and not go for top of the pricing suggestion. There were 695 price reductions in the last 7 days on the local MLS. Though I am a big fan of being strategic in pricing, unless you are willing and able to do some good-old haggling (which people say that want to haggle until someone brings them an offer). The buyers are negotiating price down on average 2.06% and is more than last month which was of 1.96%. Multiple offers is still the holy grail of a higher sales price and is very attainable with the right pricing strategy. You still need to know how to obtain multiple offers and what is the best way to negotiate when you have it. Homes that are floundering on the market are typically not priced correctly. The buyers in the market are super savvy and know now is the best time to get the best bargain before prices start to inflate even further. Occasionally buyers are turned off by homes that have been on the market for weeks let alone a couple months, however that is changing as the average days on market has increased in many neighborhoods.

Buyers - You still have to be extremely aggressive in most neighborhoods, a pre-approval is a must and I believe you should come in with a strong offer right off the get go, though I have noticed that sellers are being alittle more negotiable than the last few years. The over asking price offers is happening here and there but not as prevalent. Home inspections are common in many cases.

Market Indicator - In the last 7 days we have had 744 new homes enter the market compared to 790 last month same time frame. Also, compare in the last 7 days, there have been 851 homes go under contract compared to 979 last month and about 6% less homes have gone pending compared to same time last year. If you are contemplating selling your home, call me to discuss what is happening in your neighborhood.