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County homes are selling

Cranberry Township remains 'hot spot'

Monthly indicators point to an improving real estate market in Butler County and in Western Pennsylvania.

A snapshot of sales in Butler County shows that homes are spending less time on the market, selling for higher prices, and more are being sold.

Tom Hosack, president of the West Penn Multilist, which tracks real estate data, called the conditions a “classic good news-bad news,” scenario.

He said the county’s “hot spot” continued to be Cranberry Township, with more rural areas lagging behind.

The market uptick is good for sellers, because fast-moving inventory means less competition and better sales prices. It’s less favorable for buyers because there are fewer options to choose from and prices are higher.

According to the company’s data, Butler County homes spent an average of about 110 days on the market in June, down significantly from May’s average of about 120 days.

The average listing price of homes in southwestern Pennsylvania has also jumped more than 25 percent since June of last year, to $241,000.

And homes sales in general are picking up, Hosack said. Realtors sold 209 homes in June, compared to 189 in May.

Hosack said buyers were also continuing to see low interest rates on mortgages.

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