Is Pittsburgh, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Pittsburgh has remained a Seller's Market.
Key Takeaway
Pittsburgh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pittsburgh, PA
How much do homes in Pittsburgh, PA cost?
Median Sold Price
$241,528
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pittsburgh have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Pittsburgh was $241,528 in May 2024, up 4.7% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $164K | +5.8% |
| 2 Bedrooms | $169.9K | $174.5K | +2.7% |
| 3 Bedrooms | $221K | $235K | +6.3% |
| 4 Bedrooms | $335.2K | $355.7K | +6.1% |
| 5+ Bedrooms | $435.5K | $461K | +5.8% |
Summary: Pittsburgh housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
| Brentwood | $165K | $180K | +9.1% |
| Dormont | $251.5K | $270.2K | +7.4% |
| Pittsburgh | $230.7K | $241.5K | +4.7% |
| Baldwin Township | $188K | $190.2K | +1.2% |
| Mount Oliver | $76.2K | $65K | -14.8% |
Housing Supply in Pittsburgh, PA
How many homes are available in Pittsburgh, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,603 | 2,854 | +9.6% |
Summary: The Pittsburgh real estate market had 2,854 homes for sale in May 2024, a 9.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 93 | 97 | +4.3% |
| 2 Bedrooms | 553 | 562 | +1.6% |
| 3 Bedrooms | 1,176 | 1,285 | +9.3% |
| 4 Bedrooms | 558 | 657 | +17.7% |
| 5+ Bedrooms | 223 | 253 | +13.5% |
Summary: The Pittsburgh housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 13.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 587 | 618 | +5.3% |
Asking Price vs. Sold Price
279 Homes Were Sold
Under Asking
93 Homes Were Sold
At Asking
246 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pittsburgh, you may be able to get a good deal. 45.1% of homes here sold below asking price last month.
Summary: A total of 618 homes were sold or pending in Pittsburgh in May 2024, up by 5.3% month-over-month. Of the 618 sold homes, 45% were sold under asking, 15% were sold at asking, and 40% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 39 Days | -0.0% |
Summary: Homes in Pittsburgh had an average of 39 days on market in May 2024, down by 0% compared to last year.
Breakdown of Home Sale Times
379 Homes Were Sold
Under 30 Days
166 Homes Were Sold
In 30 - 90 Days
73 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pittsburgh are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 618 homes were sold in Pittsburgh; 61% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.