FEBRUARY 4, 2025: MARKET TEMPERATURE:

Okay, my friends… for those of you who get off on spreadsheets & statistical trends, this part of our show is just for you!

I evaluate 5 counties: Beaver, Butler, Lawrence, Allegheny & Mercer. When looking into the average sales price & median listing prices… the word I would use to describe what I’m seeing would be: spasmodic! The average sales price is up by 39% in Beaver County & down 15% in Butler. All the other counties fall somewhere in between. Likewise, the median listing prices are jumping all over the board.

There is, however, some consistent numerical markers that have been strong & steady the last several months. We’ve been waiting for the market to settle enough to provide some consistent data, & we’ve found that in our inventory numbers.

Across the board in ALL areas, the rate in which properties are selling is plummeting. When homes are selling muuuuch more sloooooowly but are still coming onto the market consistently, we – of course – are going to experience a huge influx in backlogged inventory.

Less homes going off the market + more homes being listed = more competition for sellers/more options for buyers.

Beaver is getting hit hardest. The number of properties being sold is down 66% which has pushed their months of inventory to an astonishing 250%.

When inventory increases, sellers just simply cannot go in at the top-dollar prices they’ve wanted & have been getting in the past. If you overprice your property – there’s a strong likelihood that it’ll be lost in the sea of homes that are piling up.

Buyers, if you’re looking for options – the current housing market is a buffet of options! Get out there & have fun house-hunting. There’s lots to see! You’ve been waiting for this moment – you have options & more time to make your decisions!

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