Regent Square Market Report

Summer 2022

Pittsburgh’s Regent Square Neighborhood has accelerated in popularity over the last several years, creating a higher level of increased home values even compared to other local and national appreciation levels. The eclectic mix of municipalities including City of Pittsburgh, Wilkinsburg, Edgewood, and Swissvale, all add to the neighborhood’s unique community, but the varied tax structures between these municipalities can complicate evaluation of property value. Below you’ll find a summary of key measurements we evaluate when looking at market conditions.

 
historic price trends for median sales price in regent square

Source: West Penn Multi-List 5.23.22

Price TRENDS

Regent Square has benefited from steady growth in Pittsburgh’s East End and redevelopment of Bakery Square. Over the last five years, Regent Square has experienced accelerated growth, even over above Allegheny County as a whole. Regent Square has had an average of 12% increase in median sales price vs. 6% increase for all of Allegheny County.

Projections

Looking forward, we expect sustained growth, however with rising interest rates our expectation is that year on year prices will increase at a slower rate, closer to 2 - 5% appreciation per year.

 
historic count of active listings in regent square

Source: West Penn Multi List 5.23.22

INVENTORY TRENDS

Over the last ten years, available inventory has decreased significantly in Regent Square as demand for homes increased and sellers chose to stay in their homes for longer. In the second quarter of 2022, the average time on the market including having an offer accepted and clearing inspections, was 22 days.

PROJECTIONS

Following seasonal trends, we expect active listings to increase over the fall when listings stay on the market for longer. With high neighborhood demand and limited ability to develop new construction, inventory is expected to remain low in the coming years.

 

If you have questions about the market, or would like to know more about what your home specifically is worth, we’d love to talk! Please email us or setup a time to connect at your convenience.

Cheers,

Julie & Ted