Pittsburgh, PA Real Estate Market Update

According to a recent article in the Pittsburgh Tribune-Review, home sales decreased by nearly 19 percent in June when compared to June 2010.

One possible reason for the drop in home sales year-over-year is the absence of the first time home buyers credit.

The federal tax credit, which gave homebuyers an $8,000 rebate if they bought a home by the end of June, caused a lot of activity on real estate markets last year.

Here’s what else the newspaper recently reported:

• Home values in the Pittsburgh region increased from $154,748 in 2009 to $170,351 in June
• The median home price increased from $125,500 to $134,250 during that same time.
• Butler County had the highest average home price with $231,831.
• Washington County’s average home price is $186,231
• Allegheny County’s average home price is $171,491
• Westmoreland County’s average home price is $139,944
• Beaver County’s average home price is $111,064.