DECEMBER 16, 2024: MARKET TEMPERATURE

My Italian salad dressing analogy is still applicable! Experienced agents usually know exactly where things lay in the market. However, the hand of election, the hand of misinformation, the hand of new real estate laws & the hand of the fluctuating inventory have all reached out & given that salad dressing a shake. The real estate trends need some time to settle for a bit for our level of predictability to be able to be where it was in the past.

Hold onto your hats, folks!

Mercer County has skyrocketed to the top of the charts with a jaw-dropping 132% increase in sales prices. It’s the biggest leap we’ve seen, leaving other counties in the dust. But don’t count out Lawrence and Allegheny. They’re also on the rise with impressive gains of 30% and 11%, respectively.

In a surprising twist, Beaver County is bucking the trend with an 18% drop in average sales prices. It’s a stark contrast not only to the booming markets elsewhere but also to what we’re used to seeing in Beaver.

When it comes to the number of properties sold, Lawrence County is the lone star with a modest 7% increase. Meanwhile, Allegheny County has seen a 14% dip in sales, which, believe it or not, is only half the decline experienced by Beaver, Butler, and Mercer Counties.

One thing that’s universally up? Inventory! Whether it’s a 40% increase or a whopping 80%, there’s more on the market all across the board. Options are opening up for buyers & competition for sellers is steadily building. It’s a wild ride in the real estate world right now!

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