Your Greater Pittsburgh Real Estate Market Report
The West Penn MLS Active Listings Increased 8%
Number of Homes Sold Increased 7% in October 2025 compared to 2024, in total 160 more homes sold. The average sold price increased 4% for October 2025 at 292k compared to October 2024 at 281k. There were 724 price reductions in the last 7 days compared to last month this time we had 780. I'm looking at the current under contract and pending properties and there is over 11 weeks of inventory available (we call this absorption rate), and has increased from 10 weeks a year ago. There are 121 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) 253 more than 2023. To summarize…more homes sold in October, and November seems to be running ahead of last year & 2023 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 interest rates becoming more favorable and the government opening back up very soon, if the tariffs turn out to be a net positive for us United State citizens. Then real estate should respond in a big way in the next 6-9 months. 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 705 homes have gone under contract with buyers. While there were 596 new listings that entered the market.
There are 3,546 homes under contract preparing to close in the next 2-6 weeks compared to 3,707 homes under contract last month at this time and 3,425 in November 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-11-13-24
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