Pittsburgh Real Estate Market Update: A Buyer's Paradise in 2025

The Pittsburgh real estate market has been experiencing significant changes in recent months, offering a unique landscape for buyers, sellers, and investors alike. As we delve into the current market conditions, we'll explore the latest trends, pricing shifts, and local factors influencing the Steel City's housing scene.

Market Overview

Pittsburgh has solidified its position as a buyer's market in 2025, with a greater supply of homes than demand. This shift has created favorable conditions for those looking to purchase property in the area, while presenting new challenges for sellers.

Pricing Trends

The median home sold price in Pittsburgh reached $250,230 in February 2025, marking a 5.3% increase from the previous year. This upward trend in home values has been consistent, with earlier data showing a 6.2% year-over-year increase4. The median price per square foot stands at $174, reflecting the overall growth in property values.

Market Competitiveness

Despite being a buyer's market, Pittsburgh's real estate scene remains somewhat competitive. Homes typically receive an average of 2 offers, indicating continued interest from potential buyers. The sale-to-list price ratio of 97.93% suggests that properties are generally selling close to their asking prices, though there may be room for negotiation.

Affordability and Income

Pittsburgh continues to be recognized as a relatively affordable place to live compared to other major metropolitan areas in the United States. With a median income of $79,688, residents of Pittsburgh generally spend a smaller percentage of their earnings on monthly housing costs compared to cities like Los Angeles, San Francisco, and San Jose.

The midrange market, encompassing homes priced between $100,000 and $300,000, is particularly flourishing, representing the majority of home sales in the region5. This price range aligns well with the city's median income, contributing to Pittsburgh's reputation for affordability.

Neighborhood Diversity

Pittsburgh boasts 90 distinct neighborhoods, each offering its own unique charm and character. This diversity provides a wide range of options for homebuyers, from urban dwellings to suburban retreats. The ease of access to suburban and rural communities within driving distance of the downtown core further expands the choices available to potential homeowners.

Local Factors Boosting Real Estate

Several local factors are contributing to the dynamism of Pittsburgh's real estate market:

1. Urban Revival: Downtown vacancy rates are expected to drop by 12% by 2026, signaling a resurgence in urban living.

2. Sustainability Focus: Net-zero-ready homes are appreciating faster than traditional builds, reflecting a growing interest in eco-friendly properties.

3. Tech-Driven Real Estate: The adoption of AI-powered home searches and virtual tours is changing the way people explore and purchase homes in Pittsburgh.

4. Strong Livability Score: Pittsburgh boasts an impressive livability score of 84, highlighting its excellent quality of life and attracting new residents.

5. Educational Institutions: The presence of renowned universities like Carnegie Mellon and the University of Pittsburgh continues to draw students and professionals to the area.

Looking Ahead

As we move further into 2025, experts predict that overall activity in the Pittsburgh real estate market will pick up3. The city's historically stable housing market, averaging 4% to 5% yearly appreciation rates over the last 20 years, positions it as an attractive option for both locals and those looking to relocate.

For buyers, the current market presents opportunities to negotiate on properties that have been listed for 60 days or more4. Sellers, on the other hand, should focus on pricing competitively and marketing effectively to stand out in a market where buyers have more options.

Investors may find particular interest in areas like East Liberty and North Shore for long-term rentals, while Allentown and Banksville offer potential for fix-and-flip projects with ROIs of 18-22% on modernized properties.

As Pittsburgh continues to evolve, its real estate market remains a testament to the city's resilience and appeal. With its blend of affordability, diverse neighborhoods, and promising growth prospects, the Steel City stands as an attractive destination for homebuyers and investors in 2025 and beyond.

Great Start to 2025 for Pittsburgh Market

Pittsburgh Real Estate Market Update: 2025 Insights

The Pittsburgh real estate market is showing robust signs of growth and opportunity as we progress through 2025, with our team at the forefront of this dynamic landscape.

Market Performance and Team Achievements

Since the start of the new year, our hardest working realty team has demonstrated exceptional performance:

• 10 new listings published

• 7 buyers under contract

• 12 listings under contract

Economic Landscape and Market Confidence

Recent data reveals promising indicators:

• U.S. economic growth projected at 2.3% for 2025

• Business leaders showing increased economic optimism

• 71% of executives do not anticipate a recession

Affordability and Market Advantages

Pittsburgh continues to stand out as one of the most affordable housing markets in the United States:

• Median home sale price: $215,000

• Homebuyers spend approximately 25.3% of earnings on median-priced homes

• Consistent yearly appreciation rates of 4-5% over the past two decades

Key Market Trends

Economic Stability Factors

• Diverse economy driven by technology, healthcare, and education

• Steady influx of young professionals and families

• Strong job market supporting housing demand

Emerging Real Estate Trends

1. Increased demand for energy-efficient homes

2. Growing interest in properties supporting remote work

3. Focus on walkable neighborhoods with amenities

Market Indicators

• Sale-to-list price ratio: 98.18%

• Average days on market: 77 days

• Projected home price changes vary (-1.3% to modest growth)

Why Choose Our Team

Our dedicated professionals offer:

• Local market expertise

• Personalized service

• Comprehensive market knowledge

• Proven track record of success

Looking Ahead

The Pittsburgh real estate market presents unique opportunities for buyers and sellers. Whether you're a first-time homebuyer, an experienced investor, or looking to sell, our team is committed to guiding you through every step of the process.The combination of economic stability, affordability, and emerging market trends makes Pittsburgh an attractive real estate destination in 2025. Our team stands ready to help you navigate this exciting market and achieve your real estate goals.Contact us today to explore how we can support your real estate journey in Pittsburgh's dynamic market.

2025 Forecast Nationally and Pittsburgh Area

National Housing Market Outlook for 2025

Mortgage Rates: A Gradual Decline

As we move into 2025, the mortgage rate landscape is showing signs of improvement. After a period of historically high rates, experts are cautiously optimistic about a potential decrease. Forecasts suggest rates could fluctuate between 5.75% and 7.25% throughout the year.

This range, while still higher than the historic lows of the early 2020s, may provide some relief for prospective homebuyers. The anticipated decline is attributed to several factors:

- Federal Reserve policies aimed at controlling inflation

- Stabilizing economic conditions post-pandemic

- Increased competition among lenders

For homebuyers, even a slight decrease in rates can significantly impact affordability. For instance, a 0.5% reduction in interest rates on a $300,000 mortgage could save buyers over $100 per month on their payments.

Home Sales: A Modest Rebound

The National Association of Realtors (NAR) projects a slight increase in home sales for 2025, with total home sales expected to climb to about 5.4 million. This represents a modest uptick from the lower numbers seen in 2023 and 2024.

Several factors are contributing to this projected rebound:

- Pent-up demand from buyers who were priced out in previous years

- Increased housing inventory as more homeowners decide to sell

- Improved affordability due to potentially lower mortgage rates

This increase in sales volume could signal a gradual return to a more balanced market, offering opportunities for both buyers and sellers.

Home Prices: Continued Growth, But at a Slower Pace

On average, experts forecast national home prices to rise by approximately 2.6% in 2025. This continued appreciation, albeit at a more moderate pace compared to recent years, is driven by:

- Persistent housing shortages in many markets

- Ongoing demand from millennials entering their prime home-buying years

- The rising costs of construction and materials

While this growth rate is more sustainable than the double-digit increases seen in the early 2020s, it still underscores the value of real estate as a long-term investment.

## Pittsburgh's Real Estate Market in 2025

Local Market Dynamics

Pittsburgh's housing market is showing remarkable resilience and potential for growth. The city's high livability score of 84 continues to attract new residents, potentially driving up housing demand. This influx of people could contribute to upward pressure on home prices.

Key factors shaping Pittsburgh's market include:

- Ongoing urban revitalization projects

- Growth in tech and healthcare sectors attracting young professionals

- Relatively low cost of living compared to other major cities

These elements combine to create a robust and attractive market for both homebuyers and investors.

Price Trends

While national forecasts suggest moderate growth, some local projections for Pittsburgh are even more optimistic. Realtor.com forecasts a 4.70% increase in home prices for the Pittsburgh area in 2025, indicating strong local market conditions.

This above-average growth can be attributed to:

- Limited housing inventory in desirable neighborhoods

- Increasing demand from both local buyers and out-of-state transplants

- Ongoing gentrification in certain areas, driving up property values

For homeowners, this trend suggests continued equity growth, while buyers may need to act decisively to secure properties in sought-after locations.

Affordability Factor

With a current median home price of $227,439, Pittsburgh remains relatively affordable compared to other major cities. This affordability, combined with the city's strong job market and quality of life, may continue to attract both homebuyers and investors.

The affordability factor is further enhanced by:

- A diverse range of housing options, from historic homes to new developments

- Competitive property tax rates compared to other urban areas

- Potential for appreciation, offering good value for money

These factors make Pittsburgh an attractive option for first-time homebuyers, growing families, and real estate investors alike.

Navigating the 2025 Market with Pittsburgh's Hardest Working Realty Team

In this evolving market, having an experienced real estate team by your side is more crucial than ever. At Pittsburgh's Hardest Working Realty Team, we're committed to guiding you through every step of your real estate journey in 2025 and beyond.

Our Expertise

Our team's deep understanding of Pittsburgh's neighborhoods, market trends, and negotiation strategies positions us to help you make informed decisions. We offer:

- In-depth knowledge of Pittsburgh's diverse neighborhoods and their unique characteristics

- Up-to-date market analysis to help you price your home correctly or make competitive offers

- Expert negotiation skills to ensure you get the best possible deal

Whether you're looking to buy your first home, upgrade to a larger property, or invest in Pittsburgh's real estate market, we have the knowledge and resources to support your goals.

Personalized Service

We recognize that each client's needs are unique. Our team takes pride in offering personalized service tailored to your specific situation. This includes:

- One-on-one consultations to understand your real estate goals

- Customized property searches based on your preferences and budget

- Guidance on home staging and preparation for sellers

- Support throughout the entire buying or selling process, from initial search to closing

From first-time homebuyers navigating a potentially more buyer-friendly market to sellers looking to maximize their property's value, we're here to provide expert guidance.

Leveraging Technology

In an increasingly digital world, our team utilizes cutting-edge technology to streamline the buying and selling process. Our tech-forward approach includes:

- Virtual tours and 3D property walkthroughs

- Online document signing for convenience and efficiency

- Advanced market analysis tools for accurate pricing and valuation

- Social media marketing to maximize exposure for listed properties

These tools make your real estate transaction as smooth and efficient as possible, saving you time and reducing stress.

Community Knowledge

Our deep roots in the Pittsburgh community give us unique insights into upcoming developments, school districts, and neighborhood trends. This local expertise is invaluable in helping you find not just a house, but a home that fits your lifestyle. We can provide:

- Information on local schools and their performance

- Insights into upcoming infrastructure projects that may affect property values

- Knowledge of local amenities, from parks and recreation to shopping and dining

- Understanding of community events and neighborhood dynamics

As we approach 2025, the real estate market promises both opportunities and challenges. With Pittsburgh's Hardest Working Realty Team by your side, you'll be well-equipped to navigate this dynamic landscape. Whether you're buying, selling, or investing, we're here to help you achieve your real estate goals in the Pittsburgh market and beyond.

For more information on how we can assist you in your real estate journey, visit our website at https://www.pittsburghshardestworkingrealtyteam.com/ or contact us directly. Let's work together to make your real estate dreams a reality in 2025!

The Pittsburgh Property Landscape: Capitalizing on Market Changes with Janus Realty Advisors

Welcome to the latest update on the Pittsburgh real estate market! As we navigate the changing economic landscape, there's plenty to discuss regarding interest rates, market trends, and investment opportunities.

Federal Reserve Rate Cuts and Their Impact

The Federal Reserve has recently made significant moves in the interest rate arena. On November 7, 2024, the Fed announced its second interest rate cut of the year, lowering the benchmark rate by 0.25 percentage points

This follows a larger 0.5 percentage point cut in September

These cuts have brought the federal funds rate to a range of 4.5% to 4.75%, down from its previous peak

What does this mean for the Pittsburgh real estate market? Lower interest rates typically translate to more affordable mortgages, which can stimulate buying activity. For investors and homebuyers alike, this presents an opportunity to lock in lower borrowing costs.

Pittsburgh Market Outlook

Despite the national economic uncertainties, the Pittsburgh real estate market has shown resilience. However, we're seeing signs of a slight slowdown, which savvy investors can leverage to their advantage. Here's why the current market conditions might present a golden opportunity:

1. Buyer's Market Emerging: With the market cooling, buyers have more negotiating power.

2. Long-term Growth Potential: Pittsburgh's diverse economy and ongoing urban development projects continue to make it an attractive market for long-term investments.

3. Affordability: Compared to other major cities, Pittsburgh still offers relatively affordable real estate options.

Timing Your Investment

Given the current market conditions and interest rate environment, now could be an opportune time to consider real estate investments in Pittsburgh. Here's why:

• Lower Borrowing Costs: Take advantage of the reduced interest rates to finance your property purchases.

• Potential for Appreciation: As the market stabilizes and potentially rebounds, properties acquired during this slowdown could see significant appreciation.

• Rental Market Strength: Pittsburgh's robust rental market, fueled by its universities and growing tech sector, provides steady income potential for investors.

How Janus Realty Advisors Can Help

At Janus Realty Advisors, we're proud to be part of the Pittsburgh Hardest Working real estate team. Our track record speaks for itself - we're in the top 10 for total volume in the West Penn Multi-List System, with an impressive 155 sales this year to date. Here's how we can assist you:

1. Market Expertise: Our deep understanding of Pittsburgh's neighborhoods and market trends allows us to identify the best opportunities for our clients.

2. Investor-Focused Approach: We specialize in helping investors find properties that align with their financial goals, whether it's for rental income or long-term appreciation.

3. Comprehensive Services: From property acquisition to management and eventual sale, we offer end-to-end services to support your real estate journey.

4. Proven Results: Our high sales volume demonstrates our ability to effectively market and sell properties in any market condition.

Whether you're looking to invest in Pittsburgh real estate or sell your property, our team at Janus Realty Advisors is equipped to guide you through the process. We combine local market knowledge with a data-driven approach to ensure you make informed decisions in this evolving market landscape.Don't let this opportunity pass you by. Contact Janus Realty Advisors today to explore how we can help you achieve your real estate goals in Pittsburgh's dynamic market. Let's turn this market slowdown into your investment success story!

Pittsburgh's Real Estate Shake-Up: Navigating the Proposed Tax Hike

Pittsburgh's Real Estate Shake-Up: Navigating the Proposed Tax HikeAllegheny County residents are facing a potential seismic shift in their property taxes, with a proposed 46.5% increase on the horizon.

This unprecedented hike, the first in over a decade, has sparked widespread concern and frustration among homeowners and property investors alike.

The Proposed Changes

County Executive Sara Innamorato has put forward a budget that would raise the millage rate from 4.73 to 6.93. For the average homeowner with a property valued at $110,000, this translates to an additional $180 per year in property taxes. While the county argues this increase is necessary to address an $80 million deficit, many residents are struggling to see the silver lining.

Resident Reactions

The proposed tax increase has been met with significant pushback from the community:

• Mary Kelly of Baldwin, who owns three properties in Allegheny County, is considering selling and moving to Washington County.

• Daniel and Rebecca Dawson, recent transplants from Texas, are having second thoughts about their move to Pittsburgh.

• Even college students like Hailey Herbulock are reconsidering their future in the area.

Political Landscape

The tax hike faces an uphill battle in the Allegheny County Council. Council President Pat Catena has declared the proposal "dead on arrival," with at least six council members opposing the increase. The proposal requires a supermajority of 10 out of 15 council members to pass, making its future uncertain.

How We Can Help

At PGH Hardest Working Real Estate Team, we understand the challenges this proposed tax increase presents. We're here to offer solutions and support:

1. Relocation Assistance: If you're considering moving to a neighboring county with lower tax rates, we can help you explore options and find the perfect new home.

2. Downsizing Support: For those looking to reduce their tax burden by moving to a smaller property, our team can guide you through the process and find a home that fits your needs and budget.

3. Property Assessment Appeals: We can provide resources and guidance on how to appeal your property assessment, potentially lowering your tax bill.

4. Investment Strategies: For property investors, we can help you reassess your portfolio and explore opportunities in areas with more favorable tax environments.

5. Stay Informed: We'll keep you updated on the latest developments regarding the tax proposal and any potential alternatives or compromises that emerge.

Remember, you're not alone in this. Our team at PGH Hardest Working Real Estate Team is committed to helping you navigate these challenging times. Whether you decide to stay and fight the increase or explore new horizons, we're here to support you every step of the way.Don't let this proposed tax hike derail your real estate goals. Contact us today to discuss your options and find the best path forward for you and your family.

How do the new Fed updates impact mortgage rates in Pittsburgh

The recent Federal Reserve decision to cut interest rates by 50 basis points is poised to significantly impact mortgage rates in Pittsburgh, as well as the broader real estate market. This marks the first rate cut since 2020 and is larger than analysts initially anticipated, which could lead to various changes in borrowing costs and housing demand.

Immediate Effects on Mortgage Rates

1. Lower Borrowing Costs: The Fed's rate cut is expected to put downward pressure on mortgage rates, which have recently seen a decline, hitting a two-year low. This reduction in rates makes homeownership more accessible, particularly for those who may have been priced out of the market during previous high-rate periods.

2. Increased Affordability: With lower mortgage rates, monthly payments become more manageable, allowing buyers to qualify for larger loans or consider more desirable properties. This shift could stimulate demand in the housing market, especially as potential buyers rush to take advantage of favorable borrowing conditions.

Broader Market Implications

• Potential Increase in Competition: As mortgage rates decrease, a surge in buyer interest could lead to heightened competition for available homes. This influx of demand may drive up home prices, potentially offsetting some benefits of lower interest rates.

• Market Dynamics: The Pittsburgh housing market has been characterized by a lack of inventory, which could exacerbate competition even further. While the Fed's actions are crucial, they are just one part of a complex economic landscape that includes factors like local housing supply and demand dynamics.

• Longer Processing Times: As more buyers enter the market due to lower rates, lenders might experience an uptick in applications. This increase could lead to longer processing times and possibly stricter underwriting standards.

Looking Ahead

While the Fed's decision is likely to create a more favorable environment for homebuyers in Pittsburgh, it is essential to recognize that mortgage rates are influenced by multiple factors beyond just Fed policy. The interplay between the federal funds rate and long-term bond yields will continue to shape the mortgage landscape. Therefore, potential buyers and homeowners considering refinancing should act decisively rather than waiting for an ideal moment that may not materialize.In conclusion, the recent Fed rate cut presents both opportunities and challenges for the Pittsburgh real estate market. As we navigate these changes, staying informed and prepared will be key to making the most of this evolving landscape.

Current Real Estate Market and Shifts

The Pittsburgh real estate market is currently experiencing a shift, moving from a seller's market to what experts describe as a neutral market. This change is characterized by longer selling times and a more balanced dynamic between buyers and sellers. As a member of Pittsburgh's hardest working realty team, I want to provide insights into this evolving landscape and how we can assist you in navigating these changes.

Current Market Overview

Recent data indicates that homes in Southwestern Pennsylvania are taking longer to sell, averaging around 90 days on the market. This timeframe marks the transition to a neutral market, where neither buyers nor sellers hold a distinct advantage. Previously, the region was firmly in a seller's market, but the cooling trend suggests that buyers now have more options and negotiating power.

Key Factors Influencing the Market

1. Interest Rates: The Federal Reserve's recent updates on interest rates are pivotal in shaping the real estate landscape. As interest rates rise, borrowing costs increase, which can dampen buyer enthusiasm and slow down home sales. However, this also means that sellers need to be more strategic with their pricing to attract potential buyers.

2. Inventory Levels: Although the overall market is neutral, certain areas, particularly in the western suburbs like Moon Township, still exhibit characteristics of a seller's market due to limited inventory. This localized variance means that some sellers may still find success if they price their homes competitively

3. Seasonal Trends: The real estate market typically slows down once school begins in late summer. This seasonal trend suggests that if you're considering selling your home, now might be an opportune time before the market cools further

How We Can Help

Navigating the complexities of a neutral market requires expertise and strategic planning. Here’s how my team can assist you:

• Accurate Pricing: We understand the importance of pricing your home correctly in this changing environment. Our team utilizes comprehensive market analysis to help you set a competitive price that attracts buyers without undervaluing your property.

• Marketing Strategies: In a neutral market, effective marketing becomes crucial. We leverage advanced marketing techniques and local knowledge to ensure your property stands out among the competition.

• Expert Negotiation: With our experience, we can guide you through negotiations with potential buyers, ensuring you achieve the best possible outcome for your sale.

• Market Insights: We stay updated on trends such as interest rate fluctuations and local inventory changes to provide you with timely advice tailored to your specific situation.

As we look ahead, the Pittsburgh real estate market will continue to evolve. By partnering with our dedicated team, you can navigate these changes confidently and position yourself for success in selling your home. Whether you're ready to list now or considering future options, we're here to support you every step of the way.

The Pittsburgh Real Estate Market is Cooling Off: What It Means for Buyers and Sellers

The Pittsburgh real estate market is showing signs of cooling off, transitioning from the highly competitive seller’s market that we saw in the past few years to a more balanced, neutral market. This shift provides both buyers and sellers new opportunities and challenges as they navigate these changing conditions.

Current Market Trends

Recent data indicates that the Pittsburgh housing market has cooled, with fewer homes receiving multiple offers compared to the previous year. For example, in 2024, the median sale-to-list ratio stands at 0.978, meaning that on average, homes are selling for just under their list price. Additionally, 61.1% of sales were recorded below the list price, while only 23.7% sold above it, which shows a more diverse range of pricing dynamics compared to the frenzied market of 2022-2023​(Norada Real Estate Investments).

Moreover, the inventory of homes for sale has been gradually increasing. As of March 2024, there were 1,648 properties listed for sale in Pittsburgh, and the city saw 536 new listings that month alone. This increase in inventory is providing buyers with more options and reducing the intense competition seen in the past​ (Norada Real Estate Investments).

Key Market Metrics

• Home Prices: The average home value in Pittsburgh is currently $227,329, reflecting a notable 42.3% decrease over the past year. This price correction is creating opportunities for buyers who were previously priced out of the market​(Norada Real Estate Investments).

• Days on Market: Homes in Pittsburgh are spending a bit longer on the market, with properties going pending in about 19 days. This gives buyers more time to make decisions, unlike the quick turnaround times seen in a hotter market​(Norada Real Estate Investments).

• Buyer and Seller Dynamics: The market is leaning towards a more balanced state. For sellers, pricing strategically is essential to attract serious buyers. For buyers, there is an opportunity to negotiate better deals, as the rate of homes selling over list price has decreased compared to previous years​(Norada Real Estate Investments).

What This Means for Buyers and Sellers

1. For Buyers: The current neutral market offers a window of opportunity. With more inventory available, buyers can be more selective and less rushed. This is a great time to negotiate and potentially purchase a home at a more reasonable price. However, it is still important to stay informed about local market conditions and act quickly when a desirable property comes on the market.

2. For Sellers: In a neutral market, homes may take longer to sell, and pricing becomes crucial. Overpricing can lead to longer days on the market and potentially necessitate price reductions. Working with an experienced real estate agent can help you price your home correctly from the start and position it effectively to attract the right buyers.

Conclusion

As the Pittsburgh real estate market continues to stabilize, both buyers and sellers need to adapt their strategies to the current conditions. Whether you're looking to buy or sell, partnering with Pittsburgh's hardest-working real estate team can help you navigate this changing landscape. With our expertise, we can help buyers find the best deals and sellers get the best value for their properties in today's market.

If you have questions about the Pittsburgh market or need personalized advice, reach out to us at Janus Realty Advisors. We are here to help you make informed decisions in this dynamic market.

New Commission Rules Are Here: What You Need to Know

This past Friday, new rules impacting real estate agents and MLSs across the country went into effect, marking a significant shift in how commissions are handled in real estate transactions. These changes stem from a recent settlement with the National Association of Realtors (NAR) and have introduced several key regulations that will affect both agents and clients alike.

Key Changes to Be Aware Of:

1. No More Advertising Buyer's Agent Commission:
   Agents are now prohibited from advertising the commission that will be paid to the buyer's agent as part of the deal. This means that buyers will no longer see upfront what their agent will earn from the transaction.

2. Separation of Listing and Selling Commissions:
   Listing and selling commissions can no longer be combined into a single percentage. Each must be clearly stated and negotiated separately.

3. Mandatory Buyer Agency Agreement:
   Before showing any properties, agents must now have a signed buyer agency agreement with their clients. This agreement will outline what the buyer’s agent is charging for their services.

4. Negotiating Buyer's Agent Commission:
   While the buyer's agent commission must be disclosed upfront, it can still be negotiated as part of the deal when making an offer.

What This Means for You

These are monumental changes that will impact everyone involved in real estate transactions. We are just entering the early stages of this new landscape and are committed to navigating it to provide the best possible service to our clients.

If you have any questions about these new rules or would like to discuss buying or selling a property, please don’t hesitate to reach out. You can reply to this post, or call/text us anytime.

Searching for a Home in Pittsburgh: Navigating the Nuances

The Pittsburgh Real Estate Market is in Demand

Pittsburgh is a city that often finds itself on "best of" lists. Whether it’s being named the most livable city, a top food destination, or one of the most in-demand cities for various lifestyle attributes, Pittsburgh consistently garners positive attention. If there’s a list out there highlighting top cities in the USA, Pittsburgh is likely on it.

But what does this mean for potential homebuyers? In simple terms, Pittsburgh homes for sale are in high demand.

While the city’s population may not be growing rapidly, the number of people buying houses is certainly on the rise. Competition for housing is fierce, to say the least.

Financing, Fees, and Closing in Pittsburgh

Once you find your dream home and have your offer accepted, the real journey begins with banking approvals, inspections, and closing procedures.

Closing Costs

Determining the exact amount of money needed at closing can be tricky in any market, and Pittsburgh is no different. There is the down payment, but also various closing costs that need to be factored in. Your realtor or real estate attorney can provide a detailed breakdown of these costs based on your price range and chosen house. However, it’s important to be aware of the various fees that might apply, including:

• Appraisal

• Escrow fees

• Notary fees

• Attorney fees

• Title insurance

• Title transfer tax

• Prepays for insurance and annual taxes

Inquiring about these fees early in the process can help ensure you are getting accurate estimates and are financially prepared for closing.

Title Transfer Tax

Within the City of Pittsburgh, a 5% realty title transfer tax typically applies to the house value. Outside of the City most Transfer Taxes are only 2% . This tax is often split 50/50 between the buyer and the seller and can be one of the largest contributors to closing costs. It’s essential to discuss this with your realtor when looking at houses to avoid any surprises.

Final Thoughts

Navigating the Pittsburgh real estate market can be challenging, but with the right guidance and preparation, finding your dream home is achievable. Whether it’s understanding the nuances of closing costs or finding the perfect neighborhood, being well-informed is key.

We can help connect you with great professionals for neighborhood upkeep and ensure you find the right person for the job.

Huge Week for Pittsburgh's Hardest Working Real Estate Team

This week has been monumental for Pittsburgh's hardest working real estate team, as we proudly posted 10 new listings! Our commitment to hard work and excellence ensures that each listing receives the dedicated service it deserves.

Dedicated Service for Every Listing

We believe in taking the time to properly service each of these listings. Our clients can rest assured knowing that we meticulously review every property to market them to their fullest potential. Our goal is to highlight each home's unique features and appeal, ensuring maximum visibility and interest from potential buyers.

Strategic Pricing and Enhancements

Pricing is a critical factor in selling homes quickly and effectively. We carefully analyze market trends and property values to set competitive prices that align with our sellers' best interests. Beyond pricing, we also look for ways to enhance the properties. Whether it's suggesting small fixes, adding flowers, or staging the house to highlight its best features, we go the extra mile to make sure every home looks its best.

Professional Photography

High-quality photos are essential in today’s digital real estate market. We ensure that every property is captured beautifully with professional photography. These images not only attract potential buyers but also set the tone for their first impression of the home.

Guidance and Support Throughout the Process

We understand that selling a home can be a stressful experience. Our team is here to make the process as smooth and reassuring as possible. We provide clear guidance and support every step of the way, from the initial listing to the final sale. Our goal is to keep our sellers informed and confident throughout the entire process.

Comprehensive Marketing Strategies

Our marketing strategies are comprehensive and tailored to each listing. From online listings and social media promotion to traditional marketing methods, we ensure that every property reaches a wide audience. We explain all possibilities and options to our sellers, providing them with a sense of assurance and confidence that we are fully committed to selling their property.

Client-Centered Approach

At the heart of our success is our client-centered approach. We prioritize our clients' needs and work tirelessly to achieve the best outcomes for them. Whether it’s answering questions, providing updates, or offering expert advice, we are always available to support our clients.

Thank you for trusting us with your real estate needs. Here's to another week of hard work and successful sales! If you're looking to buy or sell a home, reach out to Pittsburgh's hardest working real estate team – we're here to make it happen for you.

Pittsburgh Real Estate Market Update: Insights from Pittsburgh's Hardest Working Real Estate Team

Welcome to our latest update on the Pittsburgh real estate market! As Pittsburgh’s Hardest Working Real Estate Team, we’re committed to providing you with the most current and valuable information to help you navigate the ever-changing landscape of home sales and costs in our vibrant city. Whether you're buying, selling, or just staying informed, we've got the latest insights, tips, and statistics to keep you ahead of the game.

Current Market Overview

The Pittsburgh real estate market has shown remarkable resilience and growth over the past year. As of the first quarter of 2024, the median home price in Pittsburgh is approximately $245,000, reflecting a year-over-year increase of 5.2%. This growth is driven by a combination of low inventory, high demand, and historically low mortgage rates.

Home Sales Trends

• Increased Demand: Buyer interest remains strong, particularly in suburban neighborhoods where buyers seek more space and a better quality of life. Areas like Squirrel Hill, Mount Lebanon, and Cranberry Township are seeing particularly high demand.

• Low Inventory: The inventory of available homes continues to be low, with a current supply of just 1.8 months, compared to the balanced market level of 6 months. This has led to competitive bidding situations, often resulting in homes selling above the asking price.

• Quick Sales: Homes in Pittsburgh are selling faster than ever, with the average days on market now standing at just 23 days.

Pittsburgh Market Statistics

• Median Home Price: $245,000 (up 5.2% year-over-year)

• Average Days on Market: 23 days

• Inventory Supply: 1.8 months

• Price per Square Foot: $150

• Number of Homes Sold (Q1 2024): 2,400 (up 3% year-over-year)

These statistics highlight the robust nature of Pittsburgh’s real estate market. Despite the challenges posed by low inventory, the market remains favorable for both buyers and sellers, with steady price appreciation and quick sales.

Conclusion

Pittsburgh’s real estate market is thriving, with strong demand, rising home prices, and rapid sales. Whether you’re looking to buy or sell, staying informed and prepared is key to success in this dynamic market. As Pittsburgh's hardest working real estate team, we're here to guide you every step of the way. Reach out to us for personalized advice, expert insights, and the dedicated service you deserve.

Stay tuned for more updates, and happy house hunting!

Navigating Pittsburgh's Starter Home Market: A Look at Affordability Trends

In the bustling city of Pittsburgh, where bridges span rivers and neighborhoods boast unique charm, the dream of owning a home is more attainable than in many other metropolitan areas across the nation. But just how much income do you need to secure that coveted starter home in the Steel City?

According to recent data, the median sale price of a starter home in Pittsburgh stands at a modest $90,000. For aspiring homeowners eyeing these entry-level properties, the magic number for annual income clocks in at $32,308. While this figure reflects a slight 0.8% decrease from the previous year, it remains within reach for many first-time buyers.

Surpassing national trends, where housing affordability is increasingly strained, Pittsburgh stands out as a beacon of opportunity. In fact, it's the only major metropolitan area where the income required to purchase a starter home has actually decreased year-over-year. Notably, Pittsburgh claims the title of the second-most affordable metro in the U.S. for first-time homebuyers, trailing only behind Detroit.

But what about affordability beyond the realm of starter homes? Here's where Pittsburgh continues to shine. Even when considering median-priced homes across all brackets, the income needed to afford one hovers around $64,639, making homeownership a feasible goal for many Pittsburghers.

Comparatively, nationwide figures paint a starker picture. Across the United States, the average income necessary to purchase a typical starter home, valued at around $240,000, stands at $75,849. This disparity underscores the unique affordability of Pittsburgh's housing market.

With an average household income in the city hovering around $79,964, the majority of Pittsburgh residents find themselves well-positioned to pursue homeownership dreams. This favorable economic landscape, coupled with a diverse array of neighborhoods and amenities, cements Pittsburgh's reputation as a desirable destination for those looking to lay down roots.

As the city continues to evolve and grow, maintaining its reputation for affordability will be paramount. By fostering an environment where residents from all walks of life can aspire to homeownership, Pittsburgh ensures that the dream of owning a piece of this vibrant city remains within reach for generations to come.

Navigating the Booming Real Estate Market in Pittsburgh: A Guide to Fixer Uppers and Investment Opportunities

The real estate market in Pittsburgh has been experiencing a remarkable surge in recent years, drawing both seasoned investors and aspiring homeowners alike. With a rich blend of historical charm, vibrant communities, and an expanding economy, Pittsburgh stands out as a prime location for real estate ventures. Among the key trends shaping the landscape of the Pittsburgh market is the increasing number of individuals and teams dedicated to fixing up houses, capitalizing on the potential for significant equity gains.

Fixer Uppers: Unveiling Potential Profits

In the realm of real estate investment, fixer-upper properties have emerged as a lucrative avenue for those willing to roll up their sleeves and invest in renovation projects. Pittsburgh's housing market offers a plethora of such opportunities, ranging from historic homes in need of restoration to modern residences awaiting a fresh makeover.

One of the most compelling aspects of investing in fixer-uppers lies in the potential for substantial equity gains. By purchasing a property at a discounted price due to its condition and investing in renovations, investors can significantly increase the property's value. In Pittsburgh, this trend has gained momentum as more individuals recognize the opportunity to unlock hidden value in neglected properties across the city.

The Rise of Renovation Enthusiasts

Pittsburgh's real estate market has witnessed a surge in the number of individuals and teams dedicated to fixing up houses. Whether driven by a passion for renovation, a desire to capitalize on investment opportunities, or both, these renovation enthusiasts are playing a pivotal role in revitalizing neighborhoods and driving economic growth.

From ambitious DIY renovators to seasoned professionals, Pittsburgh boasts a diverse community of individuals committed to breathing new life into old properties. This influx of renovators not only contributes to the aesthetic appeal of neighborhoods but also plays a crucial role in preserving the city's architectural heritage.

Harnessing the Potential: Pittsburgh's Hardest Working Real Estate Team

Amidst the bustling real estate scene in Pittsburgh, one team has stood out for its exceptional performance in transactions and listings. Pittsburgh's Hardest Working Real Estate Team has secured its place as a formidable player in the market, ranking #9 in transactions and #3 in total listings in 2024 to date as of April 20th, 2024.

With a proven track record of success and a deep understanding of the local market dynamics, Pittsburgh's Hardest Working Real Estate Team has established itself as a trusted partner for both buyers and sellers. Their dedication to excellence, unparalleled market expertise, and commitment to client satisfaction have earned them a stellar reputation in the industry.

Conclusion

As the Pittsburgh real estate market continues to flourish, opportunities abound for investors, homeowners, and renovation enthusiasts alike. Fixer-uppers offer a pathway to substantial equity gains, while the growing community of renovation enthusiasts contributes to the city's ongoing revitalization efforts. Amidst this thriving landscape, Pittsburgh's Hardest Working Real Estate Team stands as a beacon of excellence, guiding clients through the intricacies of buying and selling properties with unparalleled expertise and dedication. Whether you're seeking to invest, renovate, or find your dream home, Pittsburgh's rea

5 Reasons to Use a Real Estate Professional When Selling Your Home

Selling your house is a monumental milestone in your life. Whether you’re looking to upgrade, downsize, or looking for different scenery, selling your home is the first step to getting there. Many people believe this is something they are able to do alone, but there are many beneficial reasons you should use a real estate professional. Here are some of the top reasons to use a real estate professional when selling your house:

1.     It is their job.

All a real estate agent does with their day is look at houses. They live and breathe the transactions of homes within the market they work. I hear this line all the time, “I’ll just put a sign out in my yard and sell it myself.” While this may possibly get someone interested in the home, that is not the only thing that needs to be done. There are many behind the scenes tasks to complete before you can sign the papers. Not to mention all the research, advertising, negotiating, and guidance that a real estate professional provides.

2.     Get an accurate picture of what your home is worth.

A real estate professional will be able to give you an ACCURATE estimate of what your home will be worth on the market. There are so many factors that go into pricing a home: Bedrooms, Bathrooms, Square Footage, Decks, Garages, Pools, Acreage, and so much more. So many times I hear, “Joe and Sally just listed for $XXX,XXX on their house and it isn’t as nice as mine! Mine should be worth more!” That may be true, but how many bedrooms and bathrooms did they have? How long was it on the market? What did it ACTUALLY close for? Maybe they closed a year ago and the market has shifted since then. You will want someone who looks at these factors on a daily basis.

3.     Use a network of resources.

When you sell with a real estate professional, you are not only using that individual, their brokerage, and their friends. You are using every realtor within their multi-list service and beyond. That means that people across the country are able to see your house. Take, for example, you believe you can sell your house by putting a sign in your front yard and call it good. (Nothing wrong with that, people do it everyday.) You are limiting the exposure of your house to people that drive on your street. What if you post it in the classifieds? Limiting it to people who read that newspaper. Put it on Facebook? Limiting it to your friends. If you put it on the multi-list, people from anywhere can see your house. How do you get it on there? By finding someone with access to the multi-list, or as most call them, real estate professionals.

4.     Have a negotiator.

There are many tactics when negotiating a real estate transaction. It is important to have someone representing you who has been in these situations. A real estate professional will not only have an outside view of the situation, but will not have as much emotion in the transaction. A good negotiator will be firm for what is needed, but will also be able to see both sides and come to a common ground.

5.     Dot your “i’s” and cross your “t’s”.

Everyone wants to sue you. This is the unfortunate climate we live in today and it is important to have all your affairs in order. Things like disclosures, title work, and municipality tests are important to have in order to prevent any issues down the road. You will also want to make sure you have a second set of eyes looking over your contracts and documents to make sure you aren’t being bamboozled into giving away more than you had intentionally wished. Lastly, you are going to want an extra set of those documents in case of an emergency. Real estate professionals are required to keep your records for a certain number of years.

There are a lot of moving parts going on behind the scenes of a real estate transaction. Many of these take a substantial amount of time and knowledge to complete. It is beneficial to yourself to at least consider using a real estate professional when making such a huge life decision. If you ever have any questions, reach out to your local real estate professional and set up an appointment!

If you don’t have a real estate professional that you work with, or are in the market for a new one, check out Pittsburgh’s Hardest Working Real Estate Team.

5 Tips to Help Maximize the Value of Your Home This Spring

Hello!

It’s your friends from Pittsburgh’s Hardest Working Realty Team, dropping 5 tips to help you maximize the value of the home this spring. These are a few quick things that can add value to your home if you are considering taking your house to market or just want to add to the value of your home over time.

Spring Clean

Give your home a good spring cleaning before considering taking your house to market. Clean out, declutter and reorganize, as this allows the home to show better and ultimately add value to the home. 

Break Out the Paint Brushes
Go through your home and touch up chipping or wearing paint. Consider maybe painting some of those vibrant colors a more neutral gray. Give the trim and baseboards in your home a fresh touch up and put on display your attention to detail in the painting process. place. 

Curb Appeal!

Improving the curb appeal of your home is a large step you can take to boost your marketability. Getting out in those flower beds and sprucing them up or doing some fresh landscaping. Maybe you consider adding fresh pavers or a new walkway to the front door. The options are endless. 

Fresh Touch to the Exterior Doors

Following up on curb appeal, your exterior doors, specifically your front door can grab a potential buyer's attention from the first glance. Maybe try something bright that pops to accent a more neutral exterior, or vice versa add a neutral colored door to offset the existing curb appeal that is already in 

Bring a Modern Touch to the “Heart” of Your Home
The kitchen some call it the heart of the home, but it is undoubtedly one of the big ticket items buyers will take notice of when walking a property. Try giving the kitchen a more modern look with a new backsplash or even updated appliances. The kitchen updates will add instant value to your home. 

The Journey

Come with me on a journey as I share with you the discovery of my love for helping people. I’ve learned over time that I love to help people and that it is me through and through; I just feel that it is why God put me on this earth. Feeling inspired to push myself daily and give forth the effort and passion that I feel inside. I want to show my two little girls that personal success is measured by your internal fulfillment in life. 

This path of helping started back when I was growing up with my 2 brothers. As my mom was diligent with our daily routines and getting our family ready to go somewhere, I was always the one beside her, there to help. I was always an ambitious doer, give me a task and I had it done in no time. 

One day, my dad saw a gentleman who lived down the road from us, struggling to cut his grass. My dad stopped and asked if he needed someone to cut that hill. After many sweaty, struggling hours later, I chopped the grass down from a foot and a half to regular cut height. That was the day my father and I decided that we should make a business for myself.

I went off to play college football at W&J and throughout my time there, my business grew and grew.  Realizing that educating was a great gift of mine, I aspired to become a teacher. Looking back, I realize teaching came easily to me as helping others to learn throughout my life did something more for me than money ever could.

It made me feel amazing. 

Through my business of lawn care/landscaping, I learned that hard work and attention to detail beat out the rest of my competition. People came back to me time and time again and referred me to others because they knew that a short call to Mike was all it took for help to arrive quickly. To me though, all those things came naturally, as if they were in my job description. When I did the little things, it made me happy and in turn, my customers were happy with me.

While I loved cutting grass, teaching others and having satisfied customers along the way, I knew that there was more out there for me. Overall, I had one goal: to help more people because without that, I was not fulfilled. Eventually, I had a friend reach out and say, “Mike you should really look into getting involved with real estate. You have great communication skills, know your way around a house, and you are just a good person. This could be a great fit for you.” Skeptical at first because I have never been a salesperson, I had to think about it. I never wanted to have that pushy, get the sale kind of reputation. I could cut someone’s grass to perfection, beyond their satisfaction, but selling houses was a far leap from that. In spite of my doubt, I jumped all in on this new adventure, sold my equipment and went for it. “Sometimes you have to burn the boats”, Tony Robbins says. 

My strengths of hard work and dedication were about to be put to the test as I knew NOTHING about selling homes. What I DID know was that when I put in the time and effort, the results would pay off. As I navigated the waters, my love of helping revealed why real estate was so perfect for me. 

It just worked. I loved it. 

I loved talking to people, educating them through the process, showing them all kinds of cool houses and designs, and even going to the home inspection as a support by their side helping to explain what will most likely will pop up on a home inspection report. Always pushing myself to be the best person I can be, I’ve been known to paint the floors of some of my clients' homes to assist with a sale, move furniture, and even do some landscaping to enhance curbside appeal before listing.  This Hardworking mentality has pushed me to my success with Berkshire Hathaway in the Upper St. Clair office.

In the end, I am more than your Real Estate Agent, someone who just wants to sell your home or help you buy a new one.

 I am the father of two beautiful girls that lives in your neighborhood, and understands the struggles that come along with buying and selling a house.

I am that guy who is genuinely interested in listening to what you have to say and will work my hardest to help you get exactly that.

 I am the homeowner who wants to help you develop a relationship with your own home and embrace  the joys of homeownership from the start to finish.

 I am the agent who isn’t going to neglect you just because you aren’t “ready” today.

I’m the man who strives on helping others and has partnered with Macaroni Kid South Hills because I see an opportunity to help so many families in our community by providing you with monthly tips and tricks to making your home the best it can be!

I am Michael Pohlot, Pittsburgh’s Hardest Working Realtor