Is Pittsburgh, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pittsburgh is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Pittsburgh has remained a Seller's Market.

Key Takeaway

Pittsburgh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Pittsburgh, PA

How much do homes in Pittsburgh, PA cost?

Median Sold Price

$239,938

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$14,796(+6.6%)

Key Takeaway

Homes in Pittsburgh have sold for 6.6% more than they did a year ago.

Summary: The median home sold price in Pittsburgh was $239,938 in March 2024, up 6.6% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $185K$158.5K
-14.3%
2 $178.8K$173.3K
-3.1%
3 $220.8K$231K
+4.6%
4 $296.6K$350.1K
+18.0%
5+ $425K$451.2K
+6.2%

Summary: Pittsburgh housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 6.2%.

Median Sold Price Compared To Nearby Cities

Pittsburgh
+6.6%
Dormont
+4.9%
Brentwood
+1.0%

Housing Supply in Pittsburgh, PA

How many homes are available in Pittsburgh, PA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2,2092,503+13.3%

Summary: The Pittsburgh real estate market had 2,503 homes for sale in March 2024, a 13.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 8093
+16.3%
2 489581
+18.8%
3 1,0091,124
+11.4%
4 443490
+10.6%
5+ 188215
+14.4%

Summary: The Pittsburgh housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 14.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
396473+19.4%

Asking Price vs. Sold Price

253 Homes Were Sold
Under Asking

81 Homes Were Sold
At Asking

139 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pittsburgh, you may be able to get a good deal. 53.5% of homes here sold below asking price last month.

Summary: A total of 473 homes were sold or pending in Pittsburgh in March 2024, up by 19.4% month-over-month. Of the 473 sold homes, 53% were sold under asking, 17% were sold at asking, and 29% 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

Mar 2023Mar 2024CHANGE
60 Days59 Days-1.5%

Summary: Homes in Pittsburgh had an average of 59 days on market in Mar 2024, down by 1.5% compared to last year.

Breakdown of Home Sale Times

230 Homes Were Sold
Under 30 Days

124 Homes Were Sold
In 30 - 90 Days

119 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 473 homes were sold in Pittsburgh; 49% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 25% 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 20 Days Ago

Newest Listings in Pittsburgh, PA

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