Despite the angst of many other areas of the country it appears from data I just got from the West Penn Multi List that the local area home prices are holding steady. Data indicates that the median closed prices rose in some local areas and remained fairly steady in other areas around Washington County. The median closed price reflects 50% or more of the homes closed at or very close to that price within the specified area and is a pretty good indicator of activity.

The charts linked below show this data (PDF) for two large local areas in Washington County for closings held in the month of May for the past five years. Sellers in these areas can use this information to determine whether or not they are close to the "market prices" for homes in their area. Of course location and condition of their homes will determine if they should be pricing the property over or under the market.

The best way to accomplish that would be to get three or four experienced real estate agents to complete a comprehensive market analysis on the home and take the average of their estimates as a starting or initial listing price. Notice I said experienced agents. That would be an agent with 10 or more years in the business. Whatever you do, don't go out and get a relative "newbie agent" to come up with these figures. And that goes for a relative or acquaintance who maybe just got into the business. Doesn't everybody have a few relatives who are in real estate? Anyway, be forewarned, stick with experience if you want to get the best price for your home in today's market.

                        Peters Township areas - DATA                            City of Washington areas - DATA


Jon DePoe, ABR
CurbChat.com