Pittsburgh ranks No. 1 in list of top ten metros with fastest growing home sale prices

PITTSBURGH — If you’re buying a house in the Pittsburgh area, it’s slim pickings.

There’s not a lot of inventory and in most cases, a bidding war drives up prices.

With low inventory and higher demand, multiple offers are pushing the sales price above the asking price.

The latest Redfin report says Pittsburgh is ranked number one in their list of top ten metros in the country, with the fastest growing sales price.

By definition, it’s a seller’s market — when low supply meets high demand.

But Bill Russo, vice president and regional manager at Howard Hanna Vice, calls it a balanced market.

“I think it’s a great time for buyers and sellers. I know that sounds funny because you always assume that that it’s a buyers market...but I believe it’s a balance market right now and new buyers coming in will see the appreciation of the the next number of years because Pittsburgh is still an appreciative market,” he said. “We have all the amenities of a big city, but still a small town.”

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