Pittsburgh Area Home Prices Up 9%

At the same time, listings are down

Joe DeStio
May 21, 2018 - 7:28 am

PITTSBURGH (Newsradio 1020 KDKA) - The area's real estate market, usually slow and steady, is heating up so far this year.  Housing prices here are up nearly 9 percent from January through April, according to West Penn Multi-List. Usually, increases are around 2 to 3 percent a year. 

Coldwell Banker President George Hackett heads the Multi-List says: "Right now, if you can get a few months of the appreciation we just had, you could probably equal the last five years of appreciaition."

At the same time, home listings are down nearly 8 percent in part, Hackett says, because sellers are worried about finding a new house. "This doesn't happen with all sales, but there are a lot of multiple offers" being made on homes. 

Hackett also says low interest rates are helping to boost prices.

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