Is Pittsburgh, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$239,938
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $158.5K | -14.3% |
2 Bedrooms | $178.8K | $173.3K | -3.1% |
3 Bedrooms | $220.8K | $231K | +4.6% |
4 Bedrooms | $296.6K | $350.1K | +18.0% |
5+ Bedrooms | $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%.
Housing Supply in Pittsburgh, PA
How many homes are available in Pittsburgh, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2,209 | 2,503 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 80 | 93 | +16.3% |
2 Bedrooms | 489 | 581 | +18.8% |
3 Bedrooms | 1,009 | 1,124 | +11.4% |
4 Bedrooms | 443 | 490 | +10.6% |
5+ Bedrooms | 188 | 215 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
396 | 473 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
60 Days | 59 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
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.