Pittsburgh, PA 15206 Real Estate Market Report

ZIP Code: 15206
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the 15206 area are approximately 6.5%, which is 0.3% higher than the 6.2% average observed during the early months of 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's median sold price is $374,950, which should be treated as the primary indicator of recent market value and completed transactions; this level sits virtually level with the median listing price of $375,000, suggesting limited realized premium between asking and sale prices. up

2. Despite stable pricing, transaction velocity appears slow given a median days on market of 340, which suggests extended marketing timelines and pricing friction that may require more aggressive listing strategies or targeted buyer incentives to accelerate sales. neutral

3. Inventory context in the analyzed sample indicates relatively constrained active supply, which, combined with a neutral market temperature and a price year-over-year trend of up, suggests pricing should remain supported but not rapidly accelerating absent a change in demand or financing conditions. moderate

4. Interest rate pressure is elevated (local 30-year fixed rates near 6.5%, about 0.3% above a recent 6.2% average), and rents are trending up with a median market rent of $1,470; this mix indicates buyers face higher financing costs while landlords may see improving rent receipts, so prioritize deals where cash-flow and financing flexibility are clear. elevated

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Pittsburgh, PA 15206 Real Estate Market Report

ZIP Code: 15206
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the 15206 area are approximately 6.5%, which is 0.3% higher than the 6.2% average observed during the early months of 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. 265,000 median sold price is the primary indicator of market value and recent transactions in 15206, signaling relatively stable sold comps that market participants should reference when pricing and underwriting deals. representative recent sale

2. 365 median days on market combined with a neutral market temperature suggests slower sales velocity and pricing friction rather than rapid turnover; sellers and appraisers should expect extended marketing periods and price sensitivity. stable but slow market

3. 296 median price per square foot supports valuation benchmarks for both single-family residential and condominiums in the neighborhood and should be used as the local unit-rate comparator when assessing list-to-sold price alignment. use as local benchmark

4. 1,650 median market rent and an upward rent year-over-year trend indicate strengthening rental income potential concurrently with rising rents, which may support investor underwriting assumptions where applicable. rents rising

5. Interest rate pressure is elevated with current 30-year fixed mortgage rates of approximately 6.5%, which is 0.3% higher than the 6.2% average earlier in 2026; this elevated interest rate pressure may moderate buyer purchasing power and contribute to the observed slower sales velocity. elevated interest rate pressure

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.