Pittsburgh Real Estate in 2023

Real estate in Pittsburgh is expected to have a strong year in 2023, with a number of trends that are likely to shape the market. One of the biggest trends is the continued growth of the city's population, which is driving demand for both rental and owner-occupied housing. The city's strong economy and job market are also driving demand, as more people are looking to relocate to the area for work.

Forget the car:

Another trend that is expected to have a big impact on the Pittsburgh real estate market in 2023 is the increasing popularity of walkable neighborhoods. With more people looking to live in areas that are close to restaurants, shops, and other amenities, neighborhoods like Lawrenceville, Squirrel Hill, and Shadyside are becoming increasingly popular. These areas offer a great mix of urban and suburban living, with a variety of housing options available to suit different tastes and budgets.

Downtown:

In addition to walkable neighborhoods, the popularity of downtown living is also expected to continue to grow in 2023. The city's downtown area has undergone a major revitalization in recent years, with new apartments, condos, and townhouses being built to meet the demand for urban living. With a growing number of restaurants, shops, and entertainment options in the area, more and more people are choosing to call downtown home.

Buying in Pittsburgh:

For those looking to purchase a home, the market is expected to be relatively balanced in 2023, with a good selection of homes available at a variety of price points. However, as the city's population continues to grow, prices are likely to rise, particularly in the most popular neighborhoods. For this reason, buyers may need to be prepared to act quickly when they find a home they like in order to secure it before prices rise even higher.

Efficient homes:

Another trend that is likely to shape the Pittsburgh real estate market in 2023 is the growing popularity of sustainable and energy-efficient homes. With more people becoming aware of the environmental impact of traditional homes, many buyers are looking for properties that are designed to be more sustainable and energy-efficient. This could include features like solar panels, green roofs, and rainwater harvesting systems, as well as high-efficiency heating and cooling systems.

Local Technology:

Finally, the rise of technology and the internet is also expected to have a big impact on the Pittsburgh real estate market in 2023. Online platforms, such as Pittsburgh Startup Smirc, are making it easier for buyers, sellers, and renters to connect with the best local Real Estate Agents. This is making the home buying process more efficient and convenient than ever before.

Overall…

Pittsburgh’s real estate market is expected to be strong in 2023, with a number of trends that are shaping the market. Whether you're looking to buy, rent, or invest there are plenty of opportunities available in the city. With a growing population, a strong economy, and a wide variety of housing options, Pittsburgh is a great place to call home.