Pittsburgh PA Real Estate - Pittsburgh PA Homes For Sale | Zillow (2024)

FAQs

Are house prices dropping in Pittsburgh? ›

Based on all homes sold in the last 12 months. Homes in Pittsburgh have sold for 4.8% more than they did a year ago. Summary: The median home sold price in Pittsburgh was $244,455 in July 2024, up 4.8% from last year, and the median price per square foot was $169.

Because there are more houses for sale than interested buyers, sellers cannot price their properties higher unless they want to risk getting stuck on the market. As a result, more sellers end up dropping their asking price, and the median sale price stays below the national average.

As one of the most affordable places to live in PA, Pittsburgh offers an enticing combination of affordable housing costs, favorable mortgage rates, low-interest rates and financing opportunities.

The best month to sell a house in Pennsylvania is June.

Last year, the average listing price for Pennsylvania homes in June was $244,783, which is $16,370 more than the annual average.

PENNSYLVANIA — Eleven Pennsylvania towns have made a list of the hottest 150 real estate markets in the nation, according to a new ranking from Realtor.com. Lancaster took home the state's highest ranking, at 21st in the nation with an 84.62 "hotness" score, according to the site.

Priced out: New Harvard report highlights growing affordable housing crisis. For years, the Pittsburgh region has seen residents of communities like East Liberty and Garfield squeezed out of neighborhoods they can no longer afford to live in due to a growing affordable housing crisis.

It's considered one of the best places for retirees to live by many locals. There are several nearby universities and hospitals and this neighborhood tends to be highly educated and diverse. This creates a stimulating environment to enjoy with your new schedule.

In some metro areas, such as Detroit, Pittsburgh and Philadelphia, the gap between renting and buying is smaller, with a buy-to-rent ratio of only 2%. In other metro areas, like San Francisco, San Jose and Seattle, the gap is sizable, with the buy-to-rent ratio as high as 180.7%.

Is Pittsburgh real estate a good investment? ›

Yes, Pittsburgh is among the best cities in America for making money on real estate investments. House flippers, entrepreneurs looking for rental properties with strong cash flow to hold for twwhe long term, and other investors have made a killing investing in Pittsburgh real estate for years now.

You would need around 7,124.5$ in Tampa, FL to maintain the same standard of life that you can have with 7,000.0$ in Pittsburgh, PA (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare the cost of living and assume net earnings (after income tax).

Is Economy, PA a buyer's or seller's market? Since last year, Economy has remained a Seller's Market.

Again, June and July are the best months to close your house sale quickly. During these months, homes spend an average 24-27 days on the market, which is 10-15 days less than the rest of the months. Fewer days on the market is considered an indicator of a seller's market.

After an offer is accepted, home sales typically require an additional 30- to 45- day closing period before they are officially sold. Therefore, the average time it takes to sell a house is 55-70 days in the U.S.

Pennsylvania Housing Market Overview

In June 2024, home prices in Pennsylvania were up 6.2% compared to last year, selling for a median price. On average, the number of homes sold was down 11.2% year over year and there were 11,650 homes sold in June this year, down 13,139 homes sold in June last year.

Pittsburgh is an attractive place for real estate investors because of the low prices. However, those low prices don't always translate to high profits. Pittsburgh can be a great market for real estate investors to get into.

Pittsburgh's cost of living is 6.28% lower than the national average and 7.5% lower than the state average. Housing costs are incredibly affordable, 38% lower than the national average and 13.1% lower than the state average.

$240,443. The average Pittsburgh, PA home value is $240,443, up 6.6% over the past year and goes to pending in around 7 days.