Economy & Business
7:22 pm
Thu January 17, 2013

Regional Home Sales Up in 2012

West Penn Multi-List Inc. recently released 2012 home sales data for the Pittsburgh region showing that sales were up 10% over 2011. George Hackett, President of Coldwell Banker Real Estate Services in Pittsburgh and West Penn Multi-List said people are feeling more confident.

"Just the attitude of people thinking that real estate is better - you know for a long time all you heard was negative stuff - now all you hear is positive stuff, and because of that, that is as encouraging as anything," said Hackett.

According to West Penn Multi-List, homes put under agreement rose from 33,338 in 2011 to 36,708 in 2012. The average sale price rose more than 6% to $165,977.

The Multi-List includes home sales in the 12 county region: Allegheny, Armstrong, Beaver, Butler, Washington, Westmoreland, Fayette, Greene, Clarion, Lawrence, Mercer and Somerset.

Hackett said he thinks the upward trend will continue in 2013 and if homeowners are thinking about selling, now is the time to do it.

"If you put your home on the market and get it priced right, it's going to sell. You're going to get multiple offers possibly. So it's really good for sellers. If you knew you wanted to sell your home, the time to sell is when there's a lack of inventory, because that would ensure you of getting a better price."