Your Greater Pittsburgh Real Estate Market Report
The West Penn MLS Active Listings Increased 5%
Number of Homes Sold Increased 1% in January 2026 compared to 2025, in total 20 more homes sold. The average sold price increased 2% for January 2026 at 270k compared to January 2025 at 266k. There were 282 price reductions in the last 7 days compared to last month this time we had 389. I'm looking at the current under contract and pending properties and there is about 11 weeks of inventory available (we call this absorption rate), and has increased slightly from 10 weeks a year ago. There are 214 less 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) 317 less than 2024. To summarize…more homes sold in January, and January seems to be running alot behind of last year & 2024 with less homes pending. I am wondering if it was the extreme cold weather that has been holding us back.
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, logic seems prices would go up in time. Also real estate should respond in a big way in numbers of homes sold in 2026. Hard to say for sure, no one can predict the future. IS “2026 going to be a break out year and a run for the next 3 to 5 years”
In the last 7 days 585 homes have gone under contract with buyers. While there were 358 new listings that entered the market.
There are 2,863 homes under contract preparing to close in the next 2-6 weeks compared to 2,587 homes under contract last month at this time and 3,077 in February 2025.
Demand seems to be a little soft here in early February. Multiple-Offers and over asking price is not happening all that much and waiving of home inspections is not happening much at this time either.
“2026 is going to be a break out year and a run for the next 3 to 5 years”
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
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