Is Allegheny County, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Allegheny County is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Allegheny County was a Seller's Market.

Key Takeaway

Allegheny County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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

+$3,663(+1.6%)

Key Takeaway

Homes in Allegheny County have sold for 1.6% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $135.7K$135K
-0.6%
2 $159.9K$158.9K
-0.7%
3 $219.9K$225K
+2.3%
4 $360.7K$369.4K
+2.4%
5+ $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
+5.7%
Westmoreland County
+4.9%
Beaver County
+2.3%
Allegheny County
+1.6%
Washington County
-0.1%

Housing Supply in Allegheny County, PA

How many homes are available in Allegheny County, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3,6414,040+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

# BEDSJan 2024Feb 2024CHANGE
1 100102
+2.0%
2 778874
+12.3%
3 1,7401,883
+8.2%
4 725839
+15.7%
5+ 298342
+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 2024Feb 2024CHANGE
634652+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Allegheny County, you may be able to get a good deal. 62.9% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
64 Days61 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Allegheny County are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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