What’s New in Real Estate?

Elaine DeBilt is the Relocation Director for Prudential Preferred Realty in Pittsburgh PA and she recently shared these thoughts.

Q. What’s happening in the Pittsburgh real estate market today?
Elaine: The Pittsburgh market as a whole is up about 5% appreciation from last year. With corporate companies coming into Pittsburgh we do not have enough houses for sale. Just to mention a few: Bayer, Gardner Denver, Chevron, Shell and numerous other mining companies. Rentals are in even more demand.

Q. What is the average number of days a home is on the market in the Pittsburgh region?

Elaine: Homes priced up to $150,000 are on the market for less than 30 days. Homes priced from $200,000 to $300,000 are on the market from 30 to 60 days, and homes $300,000+ sell on average between 120 and 160 days.

Interest rates are at an all-time low of 3.25%, giving the consumer more buying power.

Q. What are the most important considerations in selling a home?

Elaine: Location, price and condition. An agent can help stage the house to look like HGTV. Pricing is key, it off sets all the other objections.

Editor’s note: If you are considering retirement living options at this retirement community pa and would like some information about recently sold homes and comparables in your neigborhood, Elaine has offered to provide this. Please contact this retirement community pa, Sherwood Oaks, to receive this valuable information 800 642-2217. Check out our website at www.sherwood-oaks.com.