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

September Market Report 2025

August 2025 vs August 2024

these number are so fresh & will adjust some

Average Sold Price increased 7%
Number of Homes Sold Decreased 16
Average Days On Market Increased 3 days

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

HELLO - There were about 1% less homes sold in August compared to August 2024. That seems good. There will be more reported homes sold for August over the next week or so, which most likely eclipse 2024 numbers by a bit. This all seems like a good bounce back from last month. We did have 2484 homes sold in August, which is the same as the 3 year average and 14% less than the 7 year average. Economic news has caused buyer and sellers pause off and on over the last few months. We are seeing plenty of sellers hit the market, yet the buyers are responding cautiously. We will see if this continues. I think most people are anticipating better interest rates are coming and are wisely dragging their feet alittle.

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 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 2484+ reasons someone did a real estate transaction in August. 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. One good thing, I am confident the real estate market will respond favorably over the next 3, 6 or 12 months.

I don’t think it is, if, the interest rates are going to come down, its just, how soon, and how much.

Sellers - Now is not a good time to test higher prices, with prices gradually pulling back, you need to price it tight and not go for top of the pricing suggestion. Though I am big fan of being strategic in pricing, unless you are willing and able to do some good-old haggling. The buyers are negotiating price down alittle over 2.57% on average over the last 90 days. 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 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.

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 notice that sellers are being alittle more negotiable than the last few years. The over asking price offers is happening in parts of town but not as prevalent. Home inspections are common in many cases and interest rates don’t seem like they are going down for the next few months. We are in tough spot for buyers, prices are high, rates are volatile and inventory is low.

Market Indicator - In the last 7 days we have had 615 new homes enter the market compared to 742 last month same time frame. Also, compare in the last 7 days, there have been 711 homes go under contract compared to 806 last month and about 2.5% 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.