Looking for Listings in Western Pa.

PITTSBURGH, Dec. 17, 2019 /PRNewswire/ -- Home sales and prices have risen from last year at this time, but home listings have dropped, according to West Penn Multi-List, Inc. and its monthly residential real estate report.

"In our region, the residential real estate market remains stable," said Tom Hosack, current president of West Penn Multi-List, Inc., and president and CEO of Berkshire Hathaway HomeServices The Preferred Realty. "The number of homes for sale is below optimal, but all other key indicators are up." 

When comparing January-November 2019 with the same time period in 2018:

• Closed sales are up 3.21 percent (27,957 units in 2019 versus 27,087 in 2018);
• Closed sales volume is up 8.36 percent ($5,586,395,697 in 2019 versus $5,155,360,362 in 2018);
• Average sales price is up 4.99 percent ($199,821 in 2019 versus $190,326 in 2018); and
• Home listings are down 10.17 percent (34,509 units in 2019 versus 38,416 in 2018).

"Houses are selling, but we aren't seeing the supply being replenished as quickly as houses are moving off the market," said Hosack. "I still think we are well positioned moving into the new year, and after the holidays, homeowners will start thinking about listing their properties for sale."

Statistical data in this report is supplied by West Penn Multi-List, Inc., the definitive source for real estate information for its 17-county service area – Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Fayette, Greene, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango, Washington and Westmoreland counties. For more information, visit http://www.westpennmls.com/.

CONTACT: Maegen Laney Noble [email protected]904.451.2644

Jennifer Faines[email protected]412.559.2860

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SOURCE West Penn Multi-List, Inc.