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.
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.
Rental Market
Property Taxes
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.
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.
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
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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.
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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.
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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.
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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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Sold below market average
Sold below market average
Sold below market average
Sold below market average
Sold below market average
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.
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.
Rental Market
Property Taxes
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.
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.
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
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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.
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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.
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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.
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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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold below market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold at market average
Sold at market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.4% rate, 1.8% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/13/2026
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