Your Greater Pittsburgh Real Estate Market Report

The West Penn MLS Active Listings Increased 7%

Number of Homes Sold Decreased 7% in April 2026 compared to 2025, in total 144 less homes sold. The average sold price increased 8% for April 2026 at 305k compared to April 2025 at 283k. There were 572 price reductions in the last 7 days compared to last month this time we had 444. I'm looking at the current under contract and pending properties and there is over 12+ weeks of inventory available (we call this absorption rate), and has increased from 10 weeks a year ago. There are 234 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) 279 more than 2024. To summarize…less homes sold in April, but May seems to be running ahead of last year & 2024 with more homes pending. I am wondering what is going on. What is the biggest driving factors, inventory? prices? wars? rates? or some other influences.

If am going to predict the market over the next few months...

With the interest rates conversation being that rates were to 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 823 homes have gone under contract with buyers. While there were 677 new listings that entered the market.

There are 4,502 homes under contract preparing to close in the next 2-6 weeks compared to 3,731 homes under contract last month at this time and 4,268 in May 2025.

Demand seems to be a really strong here in mid-May. Multiple-Offers and over asking price is happening much more overall, however waiving of home inspections is not happening as much at this time.