New homes do well, but overall sales decline in Washington County
Notice: Undefined variable: article_ad_placement3 in /usr/web/cs-washington.ogdennews.com/wp-content/themes/News_Core_2023_WashCluster/single.php on line 128
Sales of new homes continued on an upswing in Washington County last month, but the median price of all homes there and throughout the Metropolitan Pittsburgh region continued to decline, according to a report released Friday.
RealStats, a Pittsburgh-based firm, tracks residential real estate sales data in five Southwestern Pennsylvania counties: Washington, Allegheny, Beaver, Butler and Westmoreland.
Its June figures indicate a home construction boom in Washington, with the county posting gains in all four categories of new home sales compared with June 2013.
The median price last month was $375,000, up 42.7 percent from $262,828. That was the second-highest figure and second-best increase among the five counties, behind Westmoreland ($453,778, a 59.2 percent rise from $284,950).
The median price is the number at which half sold for more, half sold for less.
Washington’s average price was $372,626, 18.8 percent above $313,709 in June 2013, and its total dollar volume increased 37.8 percent year over year, from $7,842,728 to $10,806,142. The number of homes sold there went up 16 percent (25 to 29).
Metropolitan Pittsburgh experienced increases of 7.8 percent in the median and 6.9 percent in the average prices of new homes last month, an 8.8 percent rise in dollar volume and a 1.8 hike in number sold. Only Butler County showed decreases in median and average prices.
The sales of all homes was a different story, with the median price falling 5.6 percent in Washington (from $184,000 to $173,725) and 1.5 percent in Metropolitan Pittsburgh ($148,000 to $145,800) from June 2013. Median prices for the region also dropped 2.2 percent in May and 2.9 percent in April.
The average price of all homes sold in Washington County last month also declined 2.1 percent ($211,488 in 2013 to $206,991), but the dollar volume rose 15.1 percent ($51,814,665 to $59,613,375) and the number sold went up 17.6 percent (244 to 288).
Sales of existing homes was relatively flat throughout the region, the median staying at $139,900, the average going up 2.9 percent and the number sold rising 6.5 percent.
Metropolitan Pittsburgh’s dollar volume rose 9.6 percent, with Allegheny County accounting for 63.3 percent of the $498.1 million sold.
The median price of existing homes fell 9.7 percent in Washington County, from $169,900 to $153,500, and the average dropped 5.7 percent ($199,872 to $188,445). But the number sold rose from 220 to 259 (17.7 percent) and dollar volume increased 10.1 percent ($43,971,937 to $48,807, 233).