Pittsburgh, PA housing market

Pittsburgh home values have fallen about four percent in a year, and sellers are cutting prices to keep up. If you are thinking about selling, this market punishes overpricing, so here is what the numbers actually say. The typical Pittsburgh home is now worth about two hundred twenty-one thousand dollars, down roughly four percent from last year. There are just over two thousand homes for sale, and the typical listing sits for fifty nine days before it finds a buyer. That is slow enough that buyers have real room to negotiate. About 22 percent of active listings, more than one in five, has already taken a price cut. And look at the gap behind those cuts. The median list price is about two hundred fifty thousand dollars, while the typical home value sits closer to two hundred twenty-one thousand dollars. Sellers are still aiming high, then trimming when buyers do not bite. Meanwhile only about 820 new listings came on this month, so owners who do not have to move are staying put. The lesson for you: price at the market from day one, not above it. The homes that start realistic skip the cut and the two month wait. To see what your Pittsburgh home is worth today, get a free estimate at Home Value Pros dot com.