Your Greater Pittsburgh Real Estate Market Report
The West Penn MLS Active Listings Increased 8%
Number of Homes Sold Increased 9% in September 2025 compared to 2024, in total 213 more homes sold. The average sold price increased 3% for September 2025 at 291k compared to September 2024 at 281k. There were 780 price reductions in the last 7 days compared to last month this time we had 796. I'm looking at the current under contract and pending properties and there is a little over 12 weeks of inventory available (we call this absorption rate), and has increased from 10 weeks a year ago. There are 114 more current pending home sales right now, compared to last year at this time according to the West Penn MLS and (this is a interesting stat) 194 less than 2023. To summarize…more homes sold in September, and October seems to be running ahead of last year with more homes pending to sell, prices were up a bit too. Hard to say if buyers are getting it, that prices are probably going be jumping even higher over the next 12-18 months if the economy and interest rates all start to get more in line.
If am going to predict the market over the next few months...
With the government signing the BBB behind us, all the tariff talks seem to have dropped out of the news at least for now. It looks like a sizeable interest rate drops are coming over the next few months. The real estate market is probably only quarter or 2 away from a booming market again. Hard to say for sure, no one can predict the future. I had been saying. “2025 is going to be GOOD!” I have been slightly wrong so far. BUT ONLY GOD KNOWS THE FUTURE,
In the last 7 days 727 homes have gone under contract with buyers. While there were 669 new listings that entered the market.
There are 3,707 homes under contract preparing to close in the next 2-6 weeks compared to 3,722 homes under contract last month at this time and 3,530 in October 2024.
Demand is remaining fairly strong for 1)well marketed, 2)desirable & 3)effectively priced homes. Multiple-Offers over asking price is not happening all that much and waiving of home inspections is not happening as much at this time.
“Buyers are going to get some deals over the next few months, but that could be changing soon after that.”
Historic Count of Active Listings
Real Estate Tips
https://www.nicksupik.com/smart-real-estate-news/weekly-market-report-10-9-24
https://www.nicksupik.com/smart-real-estate-news/weekly-market-report-9-11-24
https://www.nicksupik.com/smart-real-estate-news/weekly-market-report-8-14-24
https://www.nicksupik.com/smart-real-estate-news/market-report-7-3-24
https://www.nicksupik.com/smart-real-estate-news/weekly-market-report-7-10-24