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Pittsburgh, PA 15216 Real Estate Market Report

ZIP Code: 15216
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.


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.

Analysis Window
90 Days
Total Properties Analyzed
48
Active Listings
24
Sold Properties
24

Market Metrics

Median Listing Price
$232,000
Median Sold Price
$235,000
Median Price per Sqft
$175/sqft

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.


Rental Market

Median Market Rent
$1,200

Property Taxes

Property Tax Rate
1.48%

Liquidity & Velocity

Median Days on Market
293
Sale-to-List Ratio
100.0%

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.

Price YoY Trend
up
Market Temperature
neutral
Rent YoY Trend
up
Interest Rate Pressure
elevated

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the 15216 area are averaging approximately 6.36%, which is 0.47% lower than the 6.83% rates observed in this market one year ago.

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


Key Findings

  1. The neighborhood’s primary market indicator, median sold price 235,000, shows realized market value from recent transactions and aligns with a price trend that is up year-over-year.

  2. The median listing price 232,000 sits slightly below the median sold price 235,000, which may indicate modest seller adjustment and limited pricing friction between asks and final sale values.

  3. Liquidity signals are mixed: a long median days on market of 293 suggests slower sales velocity, while the market temperature is neutral and the area appears to have relatively constrained active supply—together these point to a balanced market that may require patience to transact.

  4. Financing and cost-of-capital remain an influence: current local 30‑year fixed mortgage rates average 6.36%, which is 0.47% lower than the 6.83% observed one year ago, even as interest rate pressure is characterized as elevated; continue to monitor rate movement when advising buyers or pricing listings.


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.

Recent Transactions

286 Twin Hills Dr, Pittsburgh, PA 15216
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

4 beds
2 baths
2,068 sqft
$500,000
Feb 1, 2026
$242/sqft/sqft
247 days on market
1667 Potomac Ave, Pittsburgh, PA 15216
Premium

Sold above market average

5 beds
2 baths
2,156 sqft
$465,000
Feb 1, 2026
$216/sqft/sqft
523 N Meadowcroft Ave, Pittsburgh, PA 15216
Premium

Sold above market average

4 beds
2 baths
1,784 sqft
$411,500
Mar 1, 2026
$231/sqft/sqft
272 days on market
3265 Latonia Ave, Pittsburgh, PA 15216
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
1 baths
1,214 sqft
$232,000
Feb 1, 2026
$191/sqft/sqft
1800 Younger Ave, Pittsburgh, PA 15216
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
1 baths
2,160 sqft
$231,914
Feb 1, 2026
$107/sqft/sqft
219 days on market
2963 Espy Ave, Pittsburgh, PA 15216
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

5 beds
1 baths
1,924 sqft
$230,000
Mar 1, 2026
$120/sqft/sqft
146 days on market
1642 Methyl St, Pittsburgh, PA 15216
Value

Sold below market average

3 beds
1 baths
1,474 sqft
$80,000
Feb 1, 2026
$54/sqft/sqft
1100 Tennessee Ave, Pittsburgh, PA 15216
Value

Sold below market average

2 beds
1 baths
864 sqft
$72,100
Feb 1, 2026
$83/sqft/sqft

Pittsburgh, PA 15216 Real Estate Market Report

ZIP Code: 15216
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.


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.

Analysis Window
90 Days
Total Properties Analyzed
26
Active Listings
2
Sold Properties
24

Market Metrics

Median Listing Price
$140,450
Median Sold Price
$154,000
Median Price per Sqft
$154/sqft

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.


Rental Market

Median Market Rent
$1,200

Property Taxes

Property Tax Rate
1.72%

Liquidity & Velocity

Median Days on Market
370
Sale-to-List Ratio
100.0%

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.

Price YoY Trend
up
Market Temperature
neutral
Rent YoY Trend
up
Interest Rate Pressure
elevated

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the 15216 area are averaging approximately 6.36%, which is 0.47% lower than the 6.83% rates observed in this market one year ago.

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


Key Findings

  1. The neighborhood's median sold price is 154,000, which we treat as the primary indicator of market value and recent transaction activity; when combined with a median days on market of 370 this represents a pattern of slower sales velocity rather than rapid turnover.

  2. Per-unit valuation: the median price per square foot is 154, and the median market rent is 1,200, signaling that per-square-foot and rental benchmarks are aligned with steady valuation assumptions and that pricing remains measured in recent transactions.

  3. Market direction and balance: year-over-year price trends are reported as up and rent trends are reported as up, while the market temperature is neutral, indicating balanced buyer-seller conditions even as interest rate pressure is elevated.

  4. Financing context: local mortgage conditions show 30-year fixed rates averaging 6.36%, which is 0.47% lower than the 6.83% observed in this market one year ago; this relative easing versus last year could help sustain transaction activity despite the elevated interest rate environment.


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.

Recent Transactions

12 N Meadowcroft Ave # 12b, Pittsburgh, PA 15216
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

3 beds
2 baths
2,126 sqft
$450,000
Mar 1, 2026
$212/sqft/sqft
174 Jamestown Dr, Pittsburgh, PA 15216
Premium

Sold above market average

3 beds
1 baths
1,452 sqft
$366,000
Dec 1, 2025
$252/sqft/sqft
1349 days on market
158 Jamestown Ct, Pittsburgh, PA 15216
Premium

Sold above market average

2 beds
1 baths
1,120 sqft
$250,000
Dec 1, 2025
$223/sqft/sqft
335 days on market
110 Jamestown Dr Apt D, Pittsburgh, PA 15216
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

1 beds
1 baths
744 sqft
$155,000
Dec 1, 2025
$208/sqft/sqft
1488 days on market
960 Chatham Park Dr Apt B, Pittsburgh, PA 15216
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
996 sqft
$155,000
Dec 1, 2025
$156/sqft/sqft
370 days on market
960 Chatham Park Dr Apt E, Pittsburgh, PA 15216
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
1 baths
996 sqft
$150,000
Dec 1, 2025
$151/sqft/sqft
399 days on market
126 Jamestown Ct Apt C, Pittsburgh, PA 15216
Market Benchmark

Sold at market average

1 beds
1 baths
696 sqft
$105,000
Dec 1, 2025
$151/sqft/sqft
352 days on market
930 Margarite Dr Apt B, Pittsburgh, PA 15216
Value

Sold below market average

1 beds
1 baths
716 sqft
$97,500
Dec 1, 2025
$136/sqft/sqft
526 days on market

Investment Analysis

Compare rental income potential against ownership costs and benchmark against market averages.

Rent vs Cost to Own

Monthly rental income vs estimated ownership cost

-$331/mo
15216 Avg Rent
15216 Cost to Own
Rent$1,200
Own$1,531

20% down, 6.4% rate, 1.5% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

15216 Avg nightly rate
15216 Avg occupancy (days/year)
Nightly rate$194/night
Occupancy141 of 365 days

Data Sources

Real estate market data & public records, and GemHaus® proprietary models.

Report generated: 5/13/2026

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