Oct 7, 2014 2 min read

PITTSBURGH – West Penn MultiList said Tuesday new home listings and homes placed under contract were up in September.

The Pittsburgh-based real estate organization, which tracks residential sales activity in Allegheny, Armstrong, Beaver, Butler, Washington, Westmoreland, Fayette, Greene, Clarion, Lawrence, Mercer, Somerset and Indiana counties, presented the latest data in a news release.

“While the verdict may still be out on the nation’s economic recovery, it is clear that the housing market in Southwestern Pennsylvania has made a nice rebound,” said Tom Hosack, current president of Multi-List, and president and chief executive officer of Northwood Realty Services in Pittsburgh.

A comparison of September 2013 to September 2014 data shows:

• New listings increased 8.83 percent (3,057 homes in September 2013 versus 3,327 in September 2014);

• Residential homes placed under agreement increased 10.18 percent (3,144 homes in September 2013 versus 3,464 in September 2014);

• Average home sale price increased 1.83 percent ($170,988 in September 2013 versus $174,112 in September 2014); and

• Average number of days on the market decreased 4 percent (75 days in September 2013 versus 72 days in September 2014).

“We are pleased to have this positive momentum on all fronts, moving into the final quarter of the year,” said Hosack. “Improvements in all key indicators give us reason for continued optimism about our housing market in Southwestern Pennsylvania.”

When comparing January through September 2014 data with the same time period in 2013:

• New listings increased 0.87 percent (30,649 homes versus 30,916);

• Homes placed under agreement decreased 2.17 percent (30,933 homes versus 30,261);

•Average home sale price increased 1.68 percent ($171,708 to $174,586); and

• Average number of days on the market decreased 4.60 percent (87 versus 83 days).