Is Pittsburgh, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$241,451
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Pittsburgh was $241,451 in April 2024, up 7.6% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $183K | $160K | -12.6% |
2 Bedrooms | $175K | $174.2K | -0.4% |
3 Bedrooms | $220K | $234.7K | +6.7% |
4 Bedrooms | $308.7K | $355K | +15.0% |
5+ Bedrooms | $432.5K | $455.6K | +5.3% |
Summary: Pittsburgh housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.6%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
Pittsburgh | $224.4K | $241.4K | +7.6% |
Dormont | $253.5K | $270.4K | +6.7% |
Brentwood | $165K | $175K | +6.1% |
Mount Oliver | $84.7K | $70K | -17.4% |
Housing Supply in Pittsburgh, PA
How many homes are available in Pittsburgh, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,406 | 2,667 | +10.8% |
Summary: The Pittsburgh real estate market had 2,667 homes for sale in April 2024, a 10.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 84 | 94 | +11.9% |
2 Bedrooms | 560 | 560 | 0.0% |
3 Bedrooms | 1,086 | 1,204 | +10.9% |
4 Bedrooms | 470 | 570 | +21.3% |
5+ Bedrooms | 206 | 239 | +16.0% |
Summary: The Pittsburgh housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.9%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 16%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
510 | 558 | +9.4% |
Asking Price vs. Sold Price
257 Homes Were Sold
Under Asking
97 Homes Were Sold
At Asking
204 Homes Were Sold
Over Asking
Summary: A total of 558 homes were sold or pending in Pittsburgh in April 2024, up by 9.4% month-over-month. Of the 558 sold homes, 46% were sold under asking, 17% were sold at asking, and 37% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
48 Days | 50 Days | +4.2% |
Summary: Homes in Pittsburgh had an average of 50 days on market in Apr 2024, up by 4.2% compared to last year.
Breakdown of Home Sale Times
289 Homes Were Sold
Under 30 Days
159 Homes Were Sold
In 30 - 90 Days
110 Homes Were Sold
Over 90 Days
Summary: During April 2024, 558 homes were sold in Pittsburgh; 52% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.