Sorry that this info is a couple months dated - it was posted on my blog (www.thepittsburghrare.com) back in May but thought it would be useful statistical information to have posted out on ActiveRain.
We have been pretty fortunate in Mt. Lebanon to not have been affected by the housing market downturn like most of the other real estate markets in the nation.
This mostly has to do with the world class school district, the neighborhood's proximity to downtown Pittsburgh, and the strong sense of pride in the community.
Side note - I am originally from Toledo, OH and moved to Pittsburgh for college. After graduating, I took a job at PNC and have lived in Pittsburgh ever since - but have been a Lebo resident for the last 6 years.
I still find it amazing the number of people who grew up in Mt. Lebanon, moved away for college and/or their first job, but move back once they start having kids. It's a great testimony to the "livability" of the area.
Anyways - you always hear that the spring market is the best time of year to sell your home. Well now that summer is just around the corner, it would be a good time to look at this year's Spring real estate statistics compared to the last few years.
From January 1st through May 1st in Mt. Lebanon, there were 102 single family homes that sold. The average sale price was $215,700. The most expensive home that sold was for $840,000 (a beautiful home in Mission Hills) and the least expensive was $52,288 (a 3 Bedroom, 1 Bath bank foreclosure on Martin - what a deal!).
But how does that compare to the same time period in years past? Well here you go.....
2007 - 114 Sold, $230,250 average purchase price, $871k was the most expensive, & $89k was the least expensive
2006 - 133 Sold, $215,500 average purchase price, $960k was the most expensive, & $71,250 was the least expensive
2005 - 113 Sold, $208,600 average purchase price, $625k was the most expensive, & $88.5k was the least expensive
So we have fallen back a little in units sold and the average sold price to 2006 levels - but still not bad compared to most of the national major metropolitan markets.
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