Closed home sales up 10 percent, Multi-List says
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Western Pennsylvania home sales have shot way up, West Penn Multi-List Inc. said Wednesday in its monthly residential real estate report.
“The growth of home sales in our market is extraordinary,” George Hackett, president of the local Multi-List and Coldwell Banker Real Estate Services, Pittsburgh, said in a statement. “We have seen a 10 percent uptick in closed sales volume compared to last year.”
Figures in the report compare January to July 2018 with the same six-month period of 2017, and the numbers indicate it is a seller’s market. Statistics show:
- Closed sales volume is up 10.07 percent ($3,240,259,504 from $2,943,769,062 in 2017);
- Closed sales are up 2.09 percent (16,696 units from 16,354);
- Average sale price is up 7.82 percent ($194,074 from $180,003 in 2017);
- Home listings are down 2.88 percent (24,928 units from 25,668).
“I expect to see increased activity as we close out the summer,” Hackett said. “The price of homes is on the rise and inventory is in high demand, so now is a great time to sell your house.”
West Penn Multi-List tracks residential real estate information in 17 counties: Washington, Greene, Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Fayette, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango and Westmoreland.