Pittsburgh home prices rising faster than any place in the country, report says
PITTSBURGH (KDKA) — If you are looking to sell your home in the Pittsburgh area, analysts said the market is in your favor.
So, you're considering leaving the house where you raised your kids or selling your starter home to get something bigger. If that's the case, realtor Diana Mathison said now is a good time to sell.
"Sellers get your house on the market now," said Mathison of Howard Hanna.
The reason, she said, is supply and demand.
"We had pent-up buyers for so long because of the inventory, which has been short, and I'm going back to 2018 and 2019," Mathison said.
According to the real estate site Redfin, Pittsburgh is at the top of the charts for fastest-growing sales prices, up 22 percent from last year. Grand Rapids, Michigan; Fort Lauderdale, Florida; Greensboro, North Carolina; and Meridian, Idaho round out the top 5.
So, what kind of houses are in demand in Pittsburgh?
"The first-floor masters and the carriage homes are in a big shortage," Mathison said.
Mathison added that the trend is all over the Western Pennsylvania map.
"It's everywhere," she said. "I was in Bethel Park. I was in Lawrenceville, Shady Side over the weekend."
What about interest rates? They've been at some of their highest rates in years. Mathison said if you're a buyer and the rates are holding you back, remember this one thing.
"Marry the house and date the rate," she said. "I've refinanced probably seven or eight times."