Pittsburgh real estate values, its all about neighborhoods
Welcome to the Pittsburgh real estate market. As real estate and home buyers, we love this market. Before I go too far into why I believe that the Pittsburgh market is the best place to buy real estate, I want to go off on a tangent.
This is one of my pet peeves. It is Pittsburgh not Pittsburg. If you are looking for the Pittsburg real estate market, then you need to look at Pittsburg Kansas or Pittsburg CA. If you want to participate in the Pittsburgh Pennsylvania real estate market, then you need to add an “h” to the end of Pittsburg. We changed the spelling during WW1 to show our support for the war effort and to basically say that we didn’t spell our town’s name the same way that a German would spell it. Incidentally you can go through downtown Pittsburgh and still see buildings with the old Pittsburg spelling. I can assure you that you will have trouble finding Pittsburg real estate agents, investors, or property buyers in this town.
The Pittsburgh real estate market is a diverse group of neighborhoods. There are approximately 130 different Pittsburgh neighborhoods, and you will need to understand them before you go off on a property buying spree. Pittsburgh neighborhoods are generally divided by rivers, bridges, or hills. We have a lot of each of these dividers.
The value of a house can vary quite a bit depending on which neighborhood it is in. At the moment the Lawrenceville section of Pittsburgh is hot, red hot. The nearby Polish Hill neighborhood is not nearly as exciting, nor it the adjacent Bloomfield area. Millvale Boro on the other side of the river is much less expensive than Lawrenceville, despite easy access to Pittsburgh’s trendy North Hills area and a suburban school district. I didn’t say that all of our neighborhood values were logical, just that you need to understand our neighborhoods.
You also need to understand that there are sub-neighborhoods as well. A sub-neighborhood can be as small as a couple of blocks. The Shaler Area neighborhood of Bauerstown can’t have more than a hundred houses in it, but you had better understand that a house in Bauerstown may not be a real comp for a house in Shaler Township. It really is that specific in Pittsburgh real estate. Ask any Pittsburgh real estate agent worth their salt.