Cranberry Township Real Estate Market in Review 2011

Cranberry Township Residential Real Estate Market in Review

(* indicates number of homes)

Price Range       in 000’s	Current Listings* (2012)	Currently  Under Agreement*	Sold in 2011*	Days on Market	Sale to List Price Ratio
99 – 150	17	6	61	74	97%
151 – 200	20	6	71	79	98%
210 – 250	14	4	49	82	97%
251 – 300	13	8	76	83	98%
301 – 350	10	3	43	64	97%
351 – 400	9	4	36	57	98%
400 – 500	18	4	41	61	97%
Over 500	21	4	41	93	97%
All Prices	122	51	427	76	97%

In 2010, 427 homes were sold in an average of 76 days at 97% of list on average.

Average Sales Price in 2011 was $293,540 and in 2010 was $272,527

Based on a review of the numbers noted above, Cranberry Township Real Estate fared well in the year 2011.   The same number of homes were sold in 2011, in the same amount of time with the same sales to list price ratio as the year before.   However, the average sales price of a home increased 7.7% on average from 2010 to 2011.   Current inventory of active listings reflect a less than a 6 month supply (considered balanced) based on what sold for the previous 12 months (with the exception of the over $500,000 range).  So, the market may be more of a “seller’s market” in Cranberry this year if this ratio holds (demand may outpace supply).  It looks like it is going to be a good real estate year for those planning to sell their Cranberry Township homes in 2012.  For a more in depth analysis of your market, please email or call me today!  More areas detailed on my website: http://www.pittsburghnorthernhomes.com/market-trends.asp