Is Allegheny County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Allegheny County was a Seller's Market.
Housing Prices in Allegheny County, PA
How much do homes in Allegheny County, PA cost?
Median Sold Price
$233,234
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Allegheny County was $233,234 in February 2024, up 1.6% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135.7K | $135K | -0.6% |
2 Bedrooms | $159.9K | $158.9K | -0.7% |
3 Bedrooms | $219.9K | $225K | +2.3% |
4 Bedrooms | $360.7K | $369.4K | +2.4% |
5+ Bedrooms | $448.8K | $460.5K | +2.6% |
Summary: Allegheny County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Counties
Butler County | $309.8K | $327.4K | +5.7% |
Westmoreland County | $190.8K | $200.2K | +4.9% |
Beaver County | $177.4K | $181.5K | +2.3% |
Allegheny County | $229.5K | $233.2K | +1.6% |
Washington County | $240.5K | $240.3K | -0.1% |
Housing Supply in Allegheny County, PA
How many homes are available in Allegheny County, PA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
3,641 | 4,040 | +11.0% |
Summary: The Allegheny County real estate market had 4,040 homes for sale in February 2024, a 11.0% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 100 | 102 | +2.0% |
2 Bedrooms | 778 | 874 | +12.3% |
3 Bedrooms | 1,740 | 1,883 | +8.2% |
4 Bedrooms | 725 | 839 | +15.7% |
5+ Bedrooms | 298 | 342 | +14.8% |
Summary: The Allegheny County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 14.8%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
634 | 652 | +2.8% |
Asking Price vs. Sold Price
410 Homes Were Sold
Under Asking
94 Homes Were Sold
At Asking
148 Homes Were Sold
Over Asking
Summary: A total of 652 homes were sold or pending in Allegheny County in February 2024, up by 2.8% month-over-month. Of the 652 sold homes, 63% were sold under asking, 14% were sold at asking, and 23% were sold over asking.
Days on Market for Allegheny County, PA
How long does it take to sell a home in Allegheny County, PA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
64 Days | 61 Days | -5.8% |
Summary: Homes in Allegheny County had an average of 61 days on market in Feb 2024, down by 5.8% compared to last year.
Breakdown of Home Sale Times
255 Homes Were Sold
Under 30 Days
224 Homes Were Sold
In 30 - 90 Days
173 Homes Were Sold
Over 90 Days
Summary: During February 2024, 652 homes were sold in Allegheny County; 39% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.