Your Greater Pittsburgh Real Estate Market Report

The West Penn MLS Active Listings Increased 9%

Number of Homes Sold Decreased 6% in May 2025 compared to 2024. There were 144 less homes sold in May 2025. The average sold price did increase nearly 7% for May 2025 at 301k compared to May 2024 at 279k. There were 673 price reductions in the last 7 days. 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 8 weeks a year ago. There are 83 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) 32 more than 2023. To summarize…more homes for sale, less homes pending to sell, prices staying well above the inflation rate that is now around 2% & more homes doing price reductions than anytime in the last 4-5 years.

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

With the changes going on in the government tariffs there is no way of knowing what the trend is going to be over the next few months. I have been saying. “2025 is going to be GOOD!” ;) BUT ONLY GOD KNOWS THE FUTURE,

In the last 7 days 942 homes have gone under contract with buyers. While there were 739 new listings that entered the market.

There are 4,278 homes under contract preparing to close in the next 2-6 weeks compared to 4,132 homes under contract last month at this time and 4,361 in June 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.

“I believe we will start to see a busier summer season than normal if the we see growing confidence in what President Trump is doing with the tariff deals.”

— Nick