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Pittsburgh, PA 15221 Real Estate Market Report

ZIP Code: 15221
Report Date: May 2026
Market Temperature: COLD
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
53
Active Listings
41
Sold Properties
12

Market Metrics

Median Listing Price
$139,500
Median Sold Price
$179,900
Median Price per Sqft
$138/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
1.77%

Liquidity & Velocity

Median Days on Market
307
Sale-to-List Ratio
100.0%

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.


Market Trends & Context

Understanding Market Temperature

A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Price YoY Trend
down
Market Temperature
cold
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 Pittsburgh, PA 15221 are averaging 6.36%, which is 0.5% higher than the 5.86% average observed earlier in 2026.

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


Key Findings

  1. The primary market indicator is the $179,900 median sold price, which points to recent transaction values that are below asking expectations given the $139,500 median listing price gap and suggests pricing friction between sellers and buyers may be present.

  2. The market shows slower liquidity with a median days on market of 307, which appears to indicate reduced sales velocity and longer listing periods for representative recent sales.

  3. Broader trend signals are negative: price year-over-year trend is down and market temperature is cold, which together suggest sellers may need to adjust pricing or terms to align with transaction realities.

  4. Interest rate pressure is elevated (current 30-year fixed mortgage rates averaging 6.36%, and noted as 0.5% higher than a recent 5.86% baseline), while rent year-over-year trend is up and median market rent is $1,200, indicating potential appeal for buy-to-rent positioning but also higher financing costs that may suppress owner-occupier demand.


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

529 Peebles St, Pittsburgh, PA 15221
Top Sale

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

3 beds
1 baths
1,908 sqft
$385,000
Apr 1, 2026
$202/sqft/sqft
286 days on market
21 Bryn Mawr Rd, Pittsburgh, PA 15221
Premium

Sold above market average

3 beds
1 baths
1,204 sqft
$250,000
Apr 1, 2026
$208/sqft/sqft
278 days on market
231 Woodside Rd, Pittsburgh, PA 15221
Premium

Sold above market average

2 beds
2 baths
1,040 sqft
$243,000
Feb 1, 2026
$234/sqft/sqft
203 days on market
912 Rita Dr, Pittsburgh, PA 15221
Value

Sold below market average

3 beds
1 baths
1,566 sqft
$140,000
Feb 1, 2026
$89/sqft/sqft
512 Marion Ave, Pittsburgh, PA 15221
Value

Sold below market average

4 beds
2 baths
2,295 sqft
$131,000
Mar 1, 2026
$57/sqft/sqft
29 Barton Dr, Pittsburgh, PA 15221
Value

Sold below market average

2 beds
1 baths
1,102 sqft
$128,000
Mar 1, 2026
$116/sqft/sqft
298 days on market
1938 Laketon Rd, Pittsburgh, PA 15221
Value

Sold below market average

2 beds
1 baths
968 sqft
$50,000
May 1, 2026
$52/sqft/sqft
256 days on market
1417 Princeton Blvd, Pittsburgh, PA 15221
Value

Sold below market average

3 beds
1 baths
1,040 sqft
$50,000
Mar 1, 2026
$48/sqft/sqft
186 days on market

Pittsburgh, PA 15221 Real Estate Market Report

ZIP Code: 15221
Report Date: May 2026
Market Temperature: COLD
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
13
Active Listings
1
Sold Properties
12

Market Metrics

Median Listing Price
$85,000
Median Sold Price
$169,000
Median Price per Sqft
$129/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
$995

Property Taxes

Property Tax Rate
2.02%

Liquidity & Velocity

Median Days on Market
356
Sale-to-List Ratio
100.0%

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.


Market Trends & Context

Understanding Market Temperature

A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Price YoY Trend
down
Market Temperature
cold
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 Pittsburgh, PA 15221 are averaging 6.36%, which is 0.5% higher than the 5.86% average observed earlier in 2026.

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


Key Findings

  1. The primary market-value indicator, median sold price, is 169,000, which reflects recent transaction-level pricing and suggests a lower pricing anchor for SFR and condo buyers in the area.

  2. Liquidity shows slower velocity: the median days on market is 356, which appears to signal prolonged listing duration and may indicate pricing friction or cautious buyer behavior rather than rapid turnover.

  3. Pricing context and per-unit valuation are muted: the median price per square foot is 129, while rent metrics show a different dynamic—median market rent is 995 and rent year-over-year trend is up—suggesting rental demand is firm even as for-sale pricing trends are down.

  4. Market health and financing headwinds are consistent with conservative buyer activity: market temperature is cold and interest rate pressure is described as elevated (current 30-year fixed rate averaging 6.36%, which is 0.5% higher than the 5.86% average observed earlier in 2026), and these factors may continue to restrain transaction volume and seller pricing power.


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

2525 Greensburg Pike, Pittsburgh, PA 15221
Top Sale

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

2 beds
2 baths
150 sqft
$280,000
Dec 1, 2025
$1,867/sqft/sqft
1006 days on market
2525 Greensburg Pike Apt 506, Pittsburgh, PA 15221
Value

Sold below market average

3 beds
2 baths
2,476 sqft
$275,000
Dec 1, 2025
$111/sqft/sqft
327 days on market
813 S Braddock Ave Apt 5, Pittsburgh, PA 15221
Premium

Sold above market average

2 beds
1 baths
1,254 sqft
$269,000
Dec 1, 2025
$215/sqft/sqft
715 days on market
7376 Beacon Hill Dr, Pittsburgh, PA 15221
Market Benchmark

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

2 beds
1 baths
1,323 sqft
$169,000
Dec 1, 2025
$128/sqft/sqft
321 days on market
622 Whitney Ave Apt 4, Pittsburgh, PA 15221
Market Benchmark

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

2 beds
1 baths
1,518 sqft
$168,000
Mar 1, 2026
$111/sqft/sqft
1556 Fairmont St, Pittsburgh, PA 15221
Market Benchmark

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

2 beds
2 baths
1,395 sqft
$162,500
Dec 1, 2025
$116/sqft/sqft
356 days on market
1987 Centurion Dr Apt 408, Pittsburgh, PA 15221
Market Benchmark

Sold at market average

1 beds
1 baths
514 sqft
$64,600
Dec 1, 2025
$126/sqft/sqft
253 days on market
1987 Centurion Dr Apt 413, Pittsburgh, PA 15221
Market Benchmark

Sold at market average

1 beds
1 baths
514 sqft
$60,000
Dec 1, 2025
$117/sqft/sqft
481 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

-$15/mo
15221 Avg Rent
15221 Cost to Own
Rent$1,200
Own$1,215

20% down, 6.4% rate, 1.8% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

15221 Avg nightly rate
15221 Avg occupancy (days/year)
Nightly rate$141/night
Occupancy135 of 365 days

Data Sources

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

Report generated: 5/13/2026

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