Regional home sales continue to increase
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The Pittsburgh area housing market continued to make steady gains last month as homebuyers spent 23 percent more on houses than they did in July 2011. It also marked the 10th straight month of increased sales activity.
Year over year, buyers paid $90 million more on residential homes, according to RealSTATs, a local real estate information service that reported home sales totaled $481 million last month compared to $390.6 million in July last year.
"Anytime you add that kind of money to the economy it's a good thing," said Dan Murrer, vice president of the South Side-based company.
A total of 2,699 homes were sold in Allegheny, Beaver, Butler, Washington and Westmoreland counties.
Washington County led the pack with a 50 percent increase in dollars spent and a 34 percent increase in number of homes sold. The number of units sold in Washington County increased from 195 in July 2011 to 261 last month and dollars spent rose from $33 million to $49.5 million.
Dollar volume rose 26 percent in Westmoreland County from $45 million to $57 million. Dollar volume rose 23.7 percent in Beaver County from $20 million to $24.8 million. In Allegheny County, the dollar volume on homes sold rose 22.3 percent from $238.1 million to $291 million.
Butler County, on the other hand, saw a 7.8 percent increase in dollar volume from $54 million to $58.5 million, but had a 3.5 percent decline in sales from 228 homes sold last July to 220 sold last month.
Each county saw its median and average home price rise.
Average home prices in Allegheny County increased from $174,565 to $176,468; Beaver County average home prices rose from $133,773 to $136,395; Butler County home prices jumped from $238,052 to $265,967; and Washington County posted gains from $169,274 to $189,459.
Westmoreland County average home prices increased from $131,594 to $147,316.
First Published August 24, 2012 12:00 am