Is Allegheny County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Allegheny County has remained a Seller's Market.
Housing Prices in Allegheny County, PA
How much do homes in Allegheny County, PA cost?
Median Sold Price
$236,915
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Allegheny County was $236,915 in May 2024, up 4.5% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $145K | +11.5% |
2 Bedrooms | $156.1K | $161.1K | +3.2% |
3 Bedrooms | $219.6K | $229.9K | +4.7% |
4 Bedrooms | $357.7K | $375.4K | +5.0% |
5+ Bedrooms | $451.8K | $493.3K | +9.2% |
Summary: Allegheny County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 9.2%.
Median Sold Price Compared To Nearby Counties
Westmoreland County | $192.2K | $205.6K | +7.0% |
Allegheny County | $226.8K | $236.9K | +4.5% |
Butler County | $319.9K | $333.2K | +4.2% |
Washington County | $240.9K | $250K | +3.8% |
Beaver County | $180K | $181.7K | +1.0% |
Housing Supply in Allegheny County, PA
How many homes are available in Allegheny County, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4,537 | 5,022 | +10.7% |
Summary: The Allegheny County real estate market had 5,022 homes for sale in May 2024, a 10.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 114 | 126 | +10.5% |
2 Bedrooms | 918 | 958 | +4.4% |
3 Bedrooms | 2,104 | 2,296 | +9.1% |
4 Bedrooms | 1,029 | 1,209 | +17.5% |
5+ Bedrooms | 372 | 433 | +16.4% |
Summary: The Allegheny County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes increased by 16.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,033 | 1,110 | +7.5% |
Asking Price vs. Sold Price
500 Homes Were Sold
Under Asking
185 Homes Were Sold
At Asking
425 Homes Were Sold
Over Asking
Summary: A total of 1,110 homes were sold or pending in Allegheny County in May 2024, up by 7.5% month-over-month. Of the 1,110 sold homes, 45% were sold under asking, 17% were sold at asking, and 38% were sold over asking.
Days on Market for Allegheny County, PA
How long does it take to sell a home in Allegheny County, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 37 Days | -9.1% |
Summary: Homes in Allegheny County had an average of 37 days on market in May 2024, down by 9.1% compared to last year.
Breakdown of Home Sale Times
693 Homes Were Sold
Under 30 Days
289 Homes Were Sold
In 30 - 90 Days
128 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1110 homes were sold in Allegheny County; 62% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.