AUGUST 21, 2024: MARKET TEMPERATURE

Autumn is a season of transformation, & the real estate market is full of changes as well! So much so, that identifying trends at this very moment is extremely difficult.
The average sales price is up in half the counties & down in the other half.
The median list price is up in Beaver & Mercer Counties, down in Lawrence & Butler & steady in Allegheny County at the moment.
Think of a bottle of Italian salad dressing which represents our current real estate market. It’s all shaken up! It’s been shaken up by interest rates… it’s been shaken up by the new real estate laws… it’s been shaken up by misguided & uneducated Realtors… it’s been shaken up by buyers & sellers focusing on national real estate advice instead of local & immediate trends.
Normally, you can predict that the oil is on the surface & the herbs & spices can be found at the bottom. All of these different things are still in the same bottle, but the location is key.
With all the recent agitation, we’re getting a LOT of the unexpected.
Houses that I’m expecting to get multiple offers on are sitting on the market longer than we’d want. Some homes that I think are going to take quite a bit of effort to sell, end up being more popular than the latest Trump meme.
With that said, the only consistent trend I’m getting & have been seeing for months & months now is inventory. You’ve heard me say this for at LEAST 6 months now that the seller’s market is over. Housing inventory has been steadily & aggressively trending up – meaning – more houses on the market & therefore more choices for buyers.
I’m Always Here & Happy to Help!

Katina Hunter
Team Lead for the Katina Hunter Team with Coldwell Banker
724-888-9020
Katina.Hunter@PittsburghMoves.com