Home sales prices set record; total sales still weak

An increase in residential home sales in the Pittsburgh metropolitan area during the third quarter pushed the region's average sales price to its highest point in history -- $160,735.

RealSTATs, a local real estate information service, reported today that while the region's median home price had flat lined at around $125,000 since 2007, a recent increase in sales for homes priced over $250,000 lifted the average sales price to an all-time high.

Residential sales for Pittsburgh area houses overall, however, were the weakest in a decade from July to September.

Following the first-time homebuyer's tax credit, which ended in April, sales for homes priced from $50,000 to $200,000 dropped 22 percent as nearly 1,000 fewer homes in that price range changed hands compared to 2009.



First published on October 14, 2010 at 10:36 am