The Pittsburgh real estate sector is often described as a buyer’s market. The reasons for this are put down to a notable disparity between median listing and selling prices, healthy appreciation gains that span the previous decade, and a very attractive job market.
As such if you’re looking to sell your house fast in Pittsburgh, then you’re potentially operating in a conducive marketplace.
Before taking the plunge, we would suggest spending the time reading our brief article on what you need to consider when attempting to sell your Pittsburgh house in a speedy manner.
Pittsburgh Housing Market Forecast for 2019 and Beyond
When assessing the current state of play for the Pittsburgh housing market, a useful place to start is the annual PWC Emerging Trends in Real Estate Report. As per the 2019 edition, the report states that both "Philadelphia and Pittsburgh are showing that they have unique attributes that deserve attention.”
One of the key reasons for this is that at $200,000, median listing prices are still very competitive. Furthermore, with median selling prices at a much lower figure of $144,200, the Pittsburg housing market is potentially in favor of the buyer.
In terms of employment figures, Pennsylvania was recently listed as the 4th and 2nd best states in the U.S. for job opportunities and affordability respectively, as per Glassdoor.
This bullish sentiment towards the Pittsburgh jobs sector was further supported by a recent Pennsylvania Department of Labor and Industry report, which stated that 2018 saw annual employment growth of 0.8% in January 2019.
In summary, with median selling prices far short of median listing prices, healthy appreciation levels, and a highly attractive employment sector, evidence suggests that Pittsburgh is potentially a buyers market.
3 Key Factors That Help Pittsburg Homes Sell Faster
- Millennial migration
Time Magazine named Pittsburgh as the 7th most popular city for millennial migration, with a 6% increase between 2010-2015. If this trend continues, demand for homes in Pittsburgh is likely to increase
- Strong rental market will attract real estate investors
Research suggests that Pittsburgh has seen a very quick upsurge for demand for rental homes. Such conditions are often conducive for real estate investors, making properties in Pittsburgh an attractive prospect.
With median selling prices in Pittsburgh amounting to just $144,200, this makes the city a highly affordable option for first-time buyers.
Beware of “We Buy Houses for Cash” Companies and iBuyers
It is important to note that while we understand you are looking to sell your house fast in Pittsburgh, you should avoid using the services of companies that do not have your best interests at heart. One such example of this is organizations that engage in aggressive “We Buy Houses for Cash” marketing campaigns.
Those operating in this ever-growing segment of the Pittsburgh real estate sector often promise home sellers that they can find a buyer in a matter of days, with instant cash at the ready. However, and often unbeknown to both parties, the “We Buy Houses for Cash” agent will represent both the buyer and the seller.
As such, although you'll likely achieve your goal of a speedy sale, the overall terms of the deal will be highly unfavorable for you as the seller. It is also important to take caution with the 'iBuyer' segment of the real estate industry.
iBuyers often do have the capacity to sell your Pittsburgh house fast, however, this can result in a major loss of fair-value equity. Not only this, but iBuyer commission-fees often surpass 10%, making it a truly costly process.
The good news here is that if you want to sell your house fast in Pittsburg but do not want to pay highly unreasonable fees, there is another option — local real estate agents that operate in the Pittsburgh area.
Benefits of Partnering with a Local Pittsburgh Real Estate Agent
In a nutshell, nobody knows the Pittsburgh real estate marketplace quite like a local agent. As such, if you're looking to sell your house fast in Pittsburgh, always go with an agent that has built up a notable reputation in the local housing market.
Recognizing that the number of real estate agents operating in the Pittsburgh space has very quickly become over-crowded, we would suggest taking a look at the Clever Agent Network.
Here you will find a dedicated selection of Pittsburgh real estate agents that we have partnered with. In order to join our network, agents must agree to implement our simple, but highly competitive commission structure.
In other words, by going through Clever, our partnered agents will charge a flat fee of just $3,000, or if the sale of the house exceeds $350,000, then its a percentage rate of just 1%.
In comparison to the industry average of 6%, this ensures that you retain as much equity as possible.