Inventory in Pittsburgh has expanded in this rolling three-month view, with active listings up about 9 percent year over year. Months of supply has nearly doubled compared with a year ago, rising to 5.3 months, which points to more options for shoppers. At the same time, homes going under contract have slipped, as pending sales are down slightly from last year.
Prices are responding to this mix of higher inventory and slightly softer demand. The typical home value has climbed about 8 percent year over year, even as the share of properties selling above list price has fallen compared with last summer. Sellers are still achieving an average of about 97 percent of their list price, showing that well-priced homes can find the right buyer.
Pace has moderated, with the median days on market edging up to 57 days in the latest rolling three-month period, a bit slower than a year ago. Fewer homes are being sold overall than last year, but more are staying available, giving buyers more time and negotiating room. Sellers, meanwhile, need to watch pricing and expectations as bidding wars are less common than they were. Agent Pronto can connect both buyers and sellers with a Pittsburgh agent who understands these shifting dynamics and can guide them through each step.
