In Pittsburgh’s real estate market, multiple offers are the new normal,” says Pete Hric, because inventory remains so low.
“There’s not a lot for sale and that’s caused one of the wildest summers for people looking to buy that I’ve ever experienced,” says Hric, a member of the Matt Durbin Team at eXp Realty. At times, he says, “It’s been difficult to find something when someone’s looking.”
One house in Castle Shannon, priced at under $200,000, drew 24 offers. “That’s been consistent — multiple offers have become the new normal,” Hric says.
During the height of the pandemic, people who didn’t have to move apparently decided to wait and now, in the sellers’ market, they can get higher prices for their homes. Add to that low interest rates of around 3.5 percent on a conventional, 30-year mortgage and it’s a busy fall for real estate agents.
Another post-pandemic trend Hric sees is people seeking a home office or extra bedroom for that purpose: “Friends of mine reached out to me earlier this summer. They were living in a two-bedroom and more or less had gotten tired of being on each other’s conference calls, working back-to-back in the spare bedroom. A need for separation of spaces is something I’m seeing, somewhere you can close the door.”
At $350,000, there are homes available around the region, but many still attract multiple offers and are selling fast. Here’s a sampling:
Neighborhood: 533 Thompson Run Rd., Ross Twp
Asking price: $349,449
Description: Built in 1950, this 4-bedroom, 2.5-bath brick home is located on a nearly one-acre wooded lot in the North Hills School District. The large kitchen and dining room have hardwood floors; the living room has access to a deck and an expansive backyard. A den could become a fifth bedroom or home office. There’s a carport, single-car garage and garden shed.
Neighborhood: 524 Avery St., North Side
Asking price: $345,000
Style: Row house
Description: Located between the National Aviary and The Priory, this 3-bedroom, 2.5-bath home was built in 1993 to match older homes in the area. Gleaming hardwood floors flow from the living room to dining room to the recently updated kitchen. French doors lead to a stone courtyard and a one-car parking pad. The master bedroom has skylights and separate closets.
Neighborhood: 1094 Greentree Rd., Green Tree
Asking price: $349,000
Description: Built in 1999, this 4-bedroom, 3.5-bath home has three levels of living space with lots of natural light and spectacular views, including from the two-level deck. The home has lots of wood, a fireplace and a game room with a bar. There’s a two-car garage and room for more parking along the oversized driveway. Next door is a parklet with established landscaping.
Neighborhood: 432 Blue Ridge Dr., Coraopolis
Asking price: $349,924
Description: Graceful design, arches and woodwork add to the beauty of this 4-bedroom, 2.5-bath cul-de-sac home with a large, tree-lined backyard. The eat-in kitchen features an island and opens to the family room with a gas fireplace. A first-floor bonus room could be an office or playroom. The finished basement and spacious covered back patio offer additional living space.
Neighborhood: 2411 Bonnie Dell Dr., South Park
Asking price: $350,000
Description: The open-concept living space in this custom-built home includes a large foyer, eat-in kitchen and family room with a gas fireplace. The bedrooms are large, and the master bedroom has a balcony and spa-like bath. The deck has a patio and pond beneath it. The partially finished basement is equipped with plumbing for a full bath and primed for a fourth bedroom.
Neighborhood: 132 Sheffield Lane, McMurray/Canonsburg
Asking price: $350,000
Style: Raised ranch
Description: Built in 1972, this well-maintained home has 4 bedrooms, 3 bathrooms, a two-car garage and a large fenced yard with a deck and covered patio. The remodeled kitchen has quartz countertops and a large island. The kitchen opens to the dining room and living room. One bedroom on the lower level could be a guest room or an office. The family room has a fireplace.