Real Estate

  The housing market made up for the rocky start for the Western Pennsylvania region in 2014, according to a year-end report.

West-Penn Multi-List, Inc. says the 13-county area’s home sale prices from January-December 2014 increased by 3 percent ($5,093) from the same period in 2013. New listings also increased by 1.5 percent (570 listings) this past year.

After a particularly rough winter, the real estate market in southwestern Pennsylvania began to heat up this summer, and according to a September report from the West Penn Multi-List, Inc., the numbers are continuing to strengthen.

The number of new home listings in September (3,327) increased 8.83 percent in comparison to the number from September 2013. Residential homes placed under agreement and average home sale price also increased, a sign that houses are moving and the market is healthy.

Pittsburgh: A Top Real Estate Buyer’s Market

Sep 30, 2014
erjkprunczyk / Flickr

According to the Real Estate Firm Zillow, Pittsburgh is one of the nation’s top 10 buyer’s markets. This week contributor Rebecca Harris looks at the business of residential real estate.

Councilwoman Natalia Rudiak is asking Mayor Bill Peduto to look into the sale of an apartment complex. She said how the sale happened could lead to a loss of tax revenue to the city.  

The Cork Factory Lofts in the Strip District were recently sold to GMH Capital Partners for an undisclosed sum. But instead of buying the converted lofts outright, GMH purchased the two companies that previously owned the converted lofts and associated properties. The sale included three buildings.

The number of homes for sale in the 13-county southwestern Pennsylvania region is not keeping pace with the number of people looking to buy homes.

That’s according to a January 2014 report from real estate group West Penn Multi List Inc., which showed new listings in 12 of the 13 counties it covers decreased in the first month of the year.

President George Hacket said overall, the housing market in the region is strong.

Flickr user mknobil

The housing market in southwestern Pennsylvania continues to strengthen, according to numbers released by West Penn Multi-List.

In October, the number of residential homes placed under agreement increased 15.07 percent; new listings increased 8.69 percent, and average days on the market decreased 4.82 percent over the previous month.

Flickr user Casey Konstantín

It’s an often-repeated fact that Pittsburgh homes are cheaper to buy than those in the rest of the country, but a new study shows that does not hold true for new construction.

Every other year, the U.S Census Bureau and the U.S. Department of Housing and Urban Development (HUD) conduct a national survey measuring home prices, conditions, maintenance costs, and other relevant data. The survey also takes an in-depth look at 25 to 30 individual metro-areas on an ever-changing basis.