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Today, I want to share some of the 2015 numbers for the residential home market here in Pittsburgh. Spoiler alert: it was one of the best years ever!

Last year, we had a record number of home sales and big increases in home sales throughout the region. As a whole, home values rose 6%, which is one of the biggest gains the Pittsburgh market has seen in a long time.

A few factors attribute to this surge in market values. First-time home buyers were very active in our market, as we saw the highest amount of activity from that group since 2010. In addition, historically low interest rates brought a lot of people into the market who might have otherwise been on the fence. 


Here in 2016, we’re currently in a seller’s market, but we’re unsure how much longer this will last. The market may slow down a bit as rising interest rates put more pressure on buyers and sellers alike. We’ll have to just wait and see how the market reacts.

As it stands, we still have some very hot markets in Pittsburgh. Lawrenceville has a lot of rehabs and new construction, and it’s currently the hottest neighborhood in the area. Right behind that is the Highland Park and East Liberty areas, where home values are rising quickly. As far as suburban markets are concerned, Mount Lebanon had one their best years ever, with 515 homes sold and $136 million in sales volume in 2015! Inventory levels are very low in that market, and those conditions are likely to continue.

If you are looking to take advantage of these great market conditions, please don’t hesitate to reach out to us. We would love to hear from you!