The Pittsburgh, PA metro area housing market in January 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has decreased by 1.3% year-over-year, settling at $225,000. In contrast, the Median List Price has risen by 10.7% to $249,000, indicating a potential gap between seller expectations and buyer willingness.

The median Price Per Square Foot has increased by 7.8% to $158.98, while the Median List Price per square foot has also seen a rise of 6.9%, reaching $170.75. These figures suggest a growing valuation of property on a per-square-foot basis, despite the overall decline in sales prices.

In terms of sales activity, the number of Homes Sold has decreased by 3.8% year-over-year, with 1,257 Homes Sold in January 2025. Pending Sales have also seen a slight decline of 1.1%, totaling 1,955. New Listings have dropped significantly by 8.4%, with only 1,547 new properties entering the market. However, inventory has increased by 1.1%, reaching 5,646 homes, which may provide more options for prospective buyers.

The Months of Supply, a key indicator of market balance, has increased by 20.0% to 4.5 months, suggesting a shift towards a more balanced market. The Median Days on Market have risen by 6.0% to 74 days, indicating that homes are taking longer to sell compared to the previous year.

The average sale to list ratio has improved slightly by 0.8%, now at 96.4%, while the percentage of Homes Sold above list price has increased by 1.4% to 19.4%. This suggests that while fewer homes are selling, those that do are achieving closer to their asking prices. Price Drops have increased by 0.9%, affecting 21.1% of listings, which may reflect adjustments to align with buyer expectations.

Lastly, the percentage of homes going off the market within two weeks has decreased by 5.9%, now at 30.1%, indicating a slower pace in the market compared to last year. Overall, the Pittsburgh housing market in January 2025 shows a mix of rising list prices and slower sales activity, with a slight increase in inventory and a more balanced supply-demand dynamic.