Find your dream homes for sale in Sewickley Heights, PA.
Navigating the real estate market can be a complex endeavor, especially when market conditions are fluctuating. If you're considering buying or selling a home in Sewickley Heights, understanding the current market trends is crucial.
Current State of the Market
As of June 2023, the Sewickley Heights housing market has seen a significant downturn. The median sale price of a home in the area was $193,000 last month, marking a staggering 93.1% decrease compared to the same period last year. Additionally, the median sale price per square foot stands at $125, which is down 56.4% year-over-year.
Market Competitiveness
The market in Sewickley Heights is currently not very competitive. On average, homes are selling for about 6% below the list price and typically go pending in around 163 days. Multiple offers on homes are rare, indicating that buyers have more negotiating power at this time. However, it's worth noting that homes considered "hot" in the market can sell for approximately 1% below the list price and go pending in around 88 days.
Inbound Migration
Interestingly, only 0.54% of homebuyers are looking to move into Sewickley Heights from outside metropolitan areas. The majority of these external inquiries are coming from Washington, followed by New York and Wheeling. This suggests that Sewickley Heights is not a primary target for long-distance relocations but does have some appeal for those in specific metros.
Outbound Migration
Between June and August 2023, 21% of Sewickley Heights homebuyers were searching to move out of the area. However, a significant 79% were looking to stay within the Sewickley Heights metropolitan area. Among those looking to relocate, Myrtle Beach emerged as the most popular destination, followed by Birmingham and Sarasota.
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The Sewickley Heights real estate market is currently experiencing a downturn, with declining home prices and a less competitive environment. While this may present opportunities for buyers, it's essential to be aware of the broader migration and relocation trends affecting the area. Most residents are choosing to stay within the metropolitan area, and only a small percentage are looking to move in from other parts of the country.
Whether you're a buyer, a seller, or an investor, understanding these trends can help you make more informed decisions. Keep an eye on the market, consult with real estate professionals, and consider your options carefully to navigate this challenging landscape successfully.
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9600 Perry Hwy., #100,Get to Know Me
Kim Marie Angiulli started her real estate career in 2010 with a background in financial planning and high-end retail sales. Real Estate has proven to be a wonderful fit for Kim Marie, with a total volume last year alone of $36,000,000+. Kim quickly achieved Rookie of the year, tripling the record held by the North Hills office! CB Presidents Circle. Other designations and awards include; 5 Star REALTOR, member of the Institute for Luxury Home Marketing Member, member of the Million Dollar Guild, 2017 America's best real estate agents by Real Trends and Circle of Excellence, and a career volume total of now over $225,000,000.
You can trust "Kim Marie Sells Luxury Real Estate" to market your home at its best and provide an accurate value analysis to sell as quickly as possible. With her design expertise and exceptional marketing materials, Kim Marie showcases her listings in a way that's unlike other REALTOR.
Whether you are looking to buy or sell you won't find a REALTOR as hard-working and dedicated as Kim Marie Angiulli.
With her design expertise and exceptional marketing materials, Kim Marie showcases her listings in a way that's unlike other Realtors®. Whether you are looking to buy or sell you won't find a Realtor® as hard-working and dedicated as Kim Marie Angiulli.
