Dec 30, 2014 2 min read

PITTSBURGH – New home listings, contracts and sales prices rose for a seventh consecutive month in Southwestern Pennsylvania, according to a news release from West Penn Multi-List Inc.

The Pittsburgh-based real estate organization tracks residential sales activity in 13 counties – Washington, Greene, Fayette, Allegheny, Armstrong, Beaver, Butler, Clarion, Indiana, Lawrence, Mercer, Somerset and Westmoreland.

Multi-List released results from its November residential real estate report Tuesday. Compared with November 2013 figures, the data show:

• New listings increased 2.76 percent (2,176 to 2,236);

• Residential homes placed under agreement rose 3.50 percent (2,686 to 2,780);

• Average home sales price jumped 5.50 percent ($157,333 to $165,979);

The one not-so-favorable finding, and it was marginal, was the average number of days on the market increased from 76 to 77, a 1.31 percent bump.

The numbers have stoked Tom Hosack’s enthusiasm.

“I’m confident the progress made in residential real estate this year has set us up nicely for 2015,” said Hosack, president of the Multi-List Inc. and president/chief executive officer of Northwood Realty Services in Pittsburgh.

Hosack said he anticipates 2015 being a good year, in particular, for first-time home buyers in the Pittsburgh region.

A comparison of the January-to-November period for each year shows:

• New listings increased 1.18 percent (36,014 to 36,440);

• Residential homes placed under agreement fell 2.98 percent (36,810 to 35,712);

• Average home sales price rose 2.28 percent ($169,189 to $173,042);

• Average number of days on the market dropped 3.53 percent (85 to 82).

For more information, visit westpennmls.com.