Your Greater Pittsburgh Real Estate Market Report
The West Penn MLS Active Listings Increased 8%
Number of Homes Sold Decreased 4% in July 2025 compared to 2024. There were 94 less homes sold in July 2025. The average sold price was completely FLAT for July 2025 at 304k compared to July 2024 at 304k. There were 691 price reductions in the last 7 days compared to last month this time we had 538. 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 246 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) 43 less than 2023. To summarize…less homes sold in July, but August seems to be running ahead of last year with more homes pending to sell, prices were flat, but it is not completely uncommon to see a flat month throughout the year.
If am going to predict the market over the next few months...
With the government signing the BBB behind us, and it looks like an interest rate drop is on the horizon. The real estate market is probably only quarter or 2 away from a booming market again. Hard to say for sure, no one can predict the future. The changes going on in the government tariffs don’t seem to have much effects at this time. 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 806 homes have gone under contract with buyers. While there were 664 new listings that entered the market.
There are 3,984 homes under contract preparing to close in the next 2-6 weeks compared to 4,155 homes under contract last month at this time and 3,738 in August 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
Real Estate Tips
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