Wexford PA homes for sale are in the five county area that
recently experienced an increase in the sale of homes priced $250,000 or more.
Allegheny, Butler, Beaver, Westmoreland and Washington counties are the five
counties where sales of higher priced homes helped to send the average sales
price to a record $160,735. Wexford PA homes for sale in Allegheny County are
mainly upper middle class homes.
The record high for home sales in the $250,000 and above bracket
is what helped to lift this market. Home sales during the third quarter were
actually the weakest they have been in seventeen years. This followed the
first-time home buyer tax credit expiring on June 30th.
Approximately 6,479 homes were purchased last quarter with
families spending $1.04 billion on these homes. The numbers are thought to be
lower because many people that were buying Wexford PA homes for sale purchased
them in the second quarter to qualify for the first-time home buyer credit.
This resulted in lower home sales in the $50,000 to $200,000
range. The comparison of Wexford PA homes for sale in the third quarter of 2009
and the third quarter of 2010 showed a 22% decrease. Almost 1,000 fewer homes
were sold than at the same time last year.The information is based on sales of
duplexes, town homes and single family homes in the area using tax records and
deeds. The data also shows the average price of Wexford PA homes for sale has
increased more slowly since 2007 than it had in previous years. From 2000 to
2007, the increase was on average 5.1% per year. In 2000 the average price for
the five county area was $116,201. In 2007, it had steadily risen to reach
$157, 453.
While $160,753 is a historical highest point ever for the area,
it also shows that the average for the last three years has gone down to less
than 1%. On average since 2007, third quarter median home prices are remaining
at a steady $125,000.
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