Navigating the Ups and Downs of Pittsburgh’s Real Estate Market in August 2023

In August 2023, the real estate scene in Pittsburgh showcased a mixed bag of trends. Home prices experienced a 3.8% uplift compared to the previous year, hitting a median sale price of $250K. This price elevation indicates a steady demand for homes in the region.

On the flip side, the number of homes sold took a downward turn, registering at 401 sales, a drop from the 480 sales recorded last year. Although the market saw fewer sales, homes were selling slightly faster, with an average of 48 days on the market as opposed to 49 days in the previous year.

These trends provide a glimpse into the evolving dynamics of Pittsburgh’s real estate market, offering insights for potential buyers and sellers to strategize accordingly.

Source: https://www.redfin.com/city/15702/PA/Pittsburgh/housing-market