Your Greater Pittsburgh Real Estate Market Report

The West Penn MLS Active Listings Increased 10%

Number of Homes Sold Increased 4% in June 2025 compared to 2024. There were 104 more homes sold in June 2025. The average sold price did increase nearly 5% for June 2025 at 318k compared to June 2024 at 302k. There were 538 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 9 weeks a year ago. There are 36 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) 456 less than 2023. To summarize…more homes for sale, less homes pending to sell, prices staying well above the inflation rate that is now around 4% & 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 government signing the BBB last week, my phone has ringing, co-incidence?, hard to say for sure. The changes going on in the government tariffs don’t seem to have much effects at this time. If we can get some cut in the interest rates the real estate market should become HOT!! I have 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 664 homes have gone under contract with buyers. While there were 568 new listings that entered the market.

There are 4,155 homes under contract preparing to close in the next 2-6 weeks compared to 4,278 homes under contract last month at this time and 4,191 in July 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 we see growing confidence in what President Trump is doing with the tariff deals.”

— Nick