The real estate market in the Pittsburgh area, particularly in suburbs like Mt. Lebanon, is experiencing interesting shifts. For those pondering a move, whether as a first-time homebuyer, upsizer, downsizer, or investor, understanding the changes in home prices and availability is crucial. Here’s a look at what’s happening right now.

The real estate market is a complex interplay of supply and demand, and currently, Peters Township is a seller’s market. This means that home prices are on the rise, and homes are selling quickly, which can be a challenge for buyers. With a median sold price increasing by 9.8% from last year, the pressure is real for would-be buyers.

- Median Sold Price: In May 2025, the median home sold for $530,500, up from $483,100 in May 2024.

- Price Per Square Foot: At $197 per square foot, prices have indeed increased.

- Number of Homes for Sale: In May 2025, there were 137 homes for sale, nudging up by 19.1% from April 2025.

These figures suggest that while there are more homes for sale, strong demand is keeping prices high. Buyers are facing stiffer competition, making it harder for them to find affordable homes.

High prices and swift sales make the real estate market competitive and sometimes frustrating. Here’s how this impacts different groups:

- First-Time Buyers: Climbing prices can make homeownership seem out of reach, especially if inventory remains tight. This may lead to stressful bidding wars.

- Upsizers and Downsizers: Both groups are finding that while they can sell their homes for more, they are also paying higher prices for new homes. The desire to see the “right” home becomes more urgent.

- Investors: For investors, the market presents challenges for finding good deals. High initial costs may affect returns on investment.

Despite these challenges, there are strategies to navigate this market, allowing you to make the best choice based on your needs:

While Mt. Lebanon offers picturesque homes and top-rated schools, exploring areas like Upper St. Clair,  or Bethel Park might reveal more affordable options. These areas also provide a high quality of life and a variety of housing styles to suit different preferences.

With homes selling faster—an average of 49 days on the market compared to 84 days last year—being prepared to act quickly can make a difference. Buyers should:

- Pre-approve for a mortgage to show sellers that you’re serious.

- Set clear criteria for what you want and need in a home.

Be prepared to make a decision promptly when a desirable property becomes available.

While 68.8% of homes sold below asking price, staying alert for price reductions can reveal opportunities to snag a deal. Remember to:

- Monitor listings regularly.

Stay in touch with a knowledgeable real estate agent who is well-versed in the local market.

- Consider properties that have been on the market a bit longer.

Selling or buying at the right time can result in better prices. For example, listing a home in a well-timed season or purchasing one when there is less competition can be beneficial.

Mt. Lebanon remains an attractive area within the Pittsburgh suburbs. With a market that offers varied prices, potential buyers can find homes ranging from $250,000 to over $750,000. These diverse options mean there’s something for nearly every buyer profile.

- Current Listings: The variety of available homes attests to the community’s appeal, offering choices for families of different sizes and needs. Current listings range from $250,000 for a cozy 2-bedroom condo to more extensive properties in the $579,900 range.

- Community Appeal: As a luxury suburb, Mt. Lebanon offers not only beautiful homes but also access to a thriving business district, excellent schools, and numerous career opportunities.

With challenges come opportunities, and the real estate market in areas like Mt. Lebanon and its surroundings is no exception. Buyers, sellers, and investors should be aware of:

- The importance of working closely with an experienced agent who knows the local market nuances.

- Setting realistic expectations for finding the perfect home or investment property.

- Knowing your priorities, so you are ready to make confident and informed decisions.

Despite rising prices and reduced inventories, Mt. Lebanon and its neighboring areas present potential and promise. They offer idyllic suburban living and vibrant communities.

Whether you’re buying for the first time, upgrading, downsizing, or investing, understanding the market dynamics and planning with forethought can help you find success in this vibrant real estate market. Take advantage of the current trends and make your move wisely in the Pittsburgh area.