Is Pittsburgh, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Pittsburgh has remained a Seller's Market.
Housing Prices in Pittsburgh, PA
How much do homes in Pittsburgh, PA cost?
Median Sold Price
$242,386
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Pittsburgh was $242,386 in June 2024, up 5.1% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $157.5K | $161.5K | +2.5% |
2 Bedrooms | $170K | $173.7K | +2.2% |
3 Bedrooms | $220.7K | $235K | +6.5% |
4 Bedrooms | $335K | $354.8K | +5.9% |
5+ Bedrooms | $432.9K | $466K | +7.6% |
Summary: Pittsburgh housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
Brentwood | $165K | $180K | +9.1% |
Dormont | $250.7K | $265.2K | +5.8% |
Pittsburgh | $230.5K | $242.3K | +5.1% |
Mount Oliver | $78.7K | $62.5K | -20.6% |
Housing Supply in Pittsburgh, PA
How many homes are available in Pittsburgh, PA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
2,811 | 2,871 | +2.1% |
Summary: The Pittsburgh real estate market had 2,871 homes for sale in June 2024, a 2.1% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 93 | 94 | +1.1% |
2 Bedrooms | 559 | 560 | 0.2% |
3 Bedrooms | 1,260 | 1,309 | +3.9% |
4 Bedrooms | 649 | 658 | +1.4% |
5+ Bedrooms | 250 | 250 | 0.0% |
Summary: The Pittsburgh housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
672 | 583 | -13.2% |
Asking Price vs. Sold Price
251 Homes Were Sold
Under Asking
88 Homes Were Sold
At Asking
244 Homes Were Sold
Over Asking
Summary: A total of 583 homes were sold or pending in Pittsburgh in June 2024, down by 13.2% month-over-month. Of the 583 sold homes, 43% were sold under asking, 15% were sold at asking, and 42% were sold over asking.
Days on Market for Pittsburgh, PA
How long does it take to sell a home in Pittsburgh, PA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
39 Days | 34 Days | -12.1% |
Summary: Homes in Pittsburgh had an average of 34 days on market in Jun 2024, down by 12.1% compared to last year.
Breakdown of Home Sale Times
381 Homes Were Sold
Under 30 Days
147 Homes Were Sold
In 30 - 90 Days
55 Homes Were Sold
Over 90 Days
Summary: During June 2024, 583 homes were sold in Pittsburgh; 65% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.