"Summertime is always the most active season for residential real estate, and we expect the summer of 2013 to be busier than years past," said Barbara Kohl , chief operating officer of the West Penn Multi-List, Inc.
"In our region, we have all the ingredients to make for a stellar summer - population growth, improving employment, low interest rates and an increasing number of first-time homebuyers."
A comparison of April 2012 to April 2013 data for the 13-county region the West Penn Multi-List
serves shows new listings increased 4.92 percent (3,818 homes versus 4,006), and residential homes placed under agreement increased 17.24 percent (3,574 homes versus 4,190).
For the same time period, average home sale price increased 1.48 percent ($161,541 to $163,935), and average days on market decreased 7.48 percent (107 versus 99 days).
"We're pleased to see more people listing their homes for sale in our region, since we have such an active home-buying market," Kohl
"Homes are selling more quickly than we've seen in years, which bodes well for those who are interested in selling."
When comparing January - April 2012 data with the same time period in 2013, new listings decreased 2.24 percent (12,645 homes versus 12,362), and residential homes placed under agreement increased 11.46 percent (11,823 homes versus 13,178).
For the same time period, average home sale price increased 3.35 percent ($152,885 to $158,004), and average days on market decreased 8.26 percent (109 versus 100 days).
"Based on this latest information, my advice to homebuyers is to 'act fast' if they see a home that's of interest to them, and my advice to potential home sellers is to 'list soon' to take advantage of the active summer months," Kohl