Pittsburgh, PA 15227 Real Estate Market Report

ZIP Code: 15227
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

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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 15227 area are approximately 6.4% compared to the 6.18% average observed during the first two 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 primary indicator of recent market value is the median sold price of 187,000, which points to a representative recent sale level for the ZIP code and should drive valuation conversations for both SFR and condominium inventory.

2. There is a spread between the median listing price of 199,900 and the median sold price of 187,000, which may indicate pricing friction with sellers setting ask prices above recent transaction levels; agents should emphasize comparable solds when counseling sellers.

3. Transaction velocity appears slow given the median days on market of 271, which suggests slower sales velocity and that buyers will have time to negotiate; this aligns with the neutral market temperature and may require targeted marketing or price adjustments to accelerate closings.

4. Macro and rental context: year-over-year price trend is down while year-over-year rent trend is up, and interest rate pressure is reported as elevated; these signals together suggest cautious buyer sentiment and opportunities for investors focused on rental income, given the median market rent of 1,195 and a median price per square foot of 162.

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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 15227 Real Estate Market Report

ZIP Code: 15227
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

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

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 15227 area are approximately 6.4% compared to the 6.18% average observed during the first two 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 primary indicator, median sold price, is $309,900, which should be the primary anchor for valuation and comparable analysis rather than asking prices; recent transactions at this level suggest pricing pressure that aligns with a down price year-over-year trend.

2. The market shows slow transaction velocity with a median days on market of 216, which may indicate slower sales velocity and potential pricing friction for sellers who need to move quickly.

3. Pricing context is constrained by a median price per square foot of 168 alongside a median market rent of 1,195; the up rent year-over-year trend suggests rental demand is stronger than sales-side price momentum and may support investor interest at the right price points.

4. Interest rate pressure is elevated, and the local rate context notes current 30-year fixed mortgage rates in the 15227 area are approximately 6.4% compared to the 6.18% average observed during the first two months of 2026; combined with a neutral market temperature, this suggests a balanced buyer-seller dynamic where financing costs are a key near-term headwind.

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Notable Properties

The following 4 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.