Your Greater Pittsburgh Real Estate Market Report
The West Penn MLS Active Listings Increased 7%
Number of Homes Sold Increased 5% in November 2025 compared to 2024, in total 66 less homes sold. The average sold price increased 7% for November 2025 at 292k compared to November 2024 at 271k. There were 436 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 110 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) 215 more than 2023. To summarize…less homes sold in November , and November seems to be running ahead last year & 2023 with more homes pending to sell and 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 conversation being that rates should come down in time, prices are only going to go higher. Also real estate should respond in a big way in numbers of homes sold 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 kind of wrong so far. BUT ONLY GOD KNOWS THE FUTURE.
In the last 7 days 615 homes have gone under contract with buyers. While there were 445 new listings that entered the market.
There are 3,099 homes under contract preparing to close in the next 2-6 weeks compared to 3,546 homes under contract last month at this time and 2,989 in December 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
Would you check out my listings and see if you know someone that would benefit from working with me. Thanks - Nick
https://www.nicksupik.com/smart-real-estate-news/weekly-market-report-12-11-24
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