The reality of the local real estate market is that sales have dropped off significantly. I know this because I have just compiled a set of charts from data found in the West Penn Multi List comparing sales figures in the month of April for the years 2006 through 2009. The drop is on average between 30-35% then to now in the the areas surrounding Peters Township; City of Washington and selected areas of S. Allegheny county. Click on the corresponding areas above to view the data (PDF). The data cover single residences, condos and townhouses.

This data very closely matches some other charts I have made up, also from the WPML showing sales in these areas by price range which you can view by click on the appropriate description: Peters Twp; Washington; S. Allegheny.

This data contradicts much of the hype you may be hearing from the local real estate establishment that things are really booming in the area. Far from booming, sales are in the tank, agents are using up their savings just to keep up with advertising costs of overpriced properties that won't sell, builders are dropping prices or offering major concessions and many agents are leaving the business or going into referral programs. (Actually a good thing.)

On the really bright side this is an extremely great time for first time buyers to get into the market. Especially before the end of the year while the governments $8,000 give away is still in effect. If you are that first time buyer and want to work with someone who knows this market, give me a call.

Jon DePoe
CurbChat.com