Dare I even suggest that the Pittsburgh real estate market is heating up in 2008?
And to do so at a time when foreclosures in the Pittsburgh area set a near record in the first quarter, with economists believing that the Pennsylvania housing market could still get worse, and with the amount of sales activity and the median home price on the decline.
Why would I even suggest that the Pittsburgh housing market would do anything other than decline? Well - The Pittsburgh Business Times reports that foreclosures are down in Pittsburgh. And two articles in the Pittsburgh Post-Gazette recently - which you can check out for yourself - are titled Downtown Condos Selling Fast & When houses are hot, they’re hot.
1 response so far ↓
1 Derek Latch // May 22, 2008 at 3:29 pm
The housing market in Pittsburgh is not on a decline!!!
To all of the interested bloggers out there, Pittsburgh is not like much of the other real estate markets in the nation… but when has it ever been? Yes, I know The home sales are down for the first quarter in 2008, from 3,801 homes sold to 3,115. Most would imagine this as a detriment to our market but the truth is the listings were just not as high as 2007. Another tid bit that would entice you to Pittsburghs’ stable market is that our median home sale price is up!!! Thats right, this was not a typo, I said UP. In 2007 the average price of a home in Allegheny county was $130,644 to $141,629 in 2008. (That is close to eleven thousand dollars for the mathematical impaired out there) So I, and Howard Hanna, encourage you to not be scared. Now is the time to make your move, if you have any questions please contact me at dereklatch.howardhanna.com
Your Pittsburgh Realtor,
Derek
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