Black & Gold on the Road + Red Price Tags at Home

Sept. 19, 2025 Edition | Read Online

Fall’s in full swing — the Steelers are hitting the road for their first away game, Oktoberfest season is here, and the market’s throwing curveballs of its own. Rates leveled off after a wild two-day slide, sellers are trimming prices, and buyers still hold more cards than they did a year ago.

If you’re new here — I’m Tim Pettigrew, Pittsburgh’s go-to Realtor. I’ve sold millions in real estate and helped folks buy and sell some amazing homes. Now, I’m giving you the pulse of the 412 (814 & 724) every week.

Let’s get into it →

🏡 Market Watch

Mortgage rates leveled off after last week’s dip — holding near late-2024 territory.

• 30-yr fixed: 6.35% (-0.02%)

• 15-yr fixed: 5.90% (+0.02%)

• FHA: 6.03% (-0.02%)

• VA: 6.05% (-0.02%)

Allegheny County Numbers (Sept. 12–19):

• 🏠 New listings: 776 → still a steady pipeline of homes hitting the market

• 🔻 Price reductions: 793 → cuts outpacing new listings this week

• ✅ Closed sales: 633 → avg. $300K | median $239K

• ⏱ Days on market: Median 29 days

National & Local Signals:

• 🏦 Fed easing: The Fed just delivered its first rate cut in months, and markets expect more before year-end. That could help mortgage rates drift lower into fall.

• 🏗 New construction slowdown: National housing starts dropped ~7% in August. Locally, Pittsburgh continues to lag peer metros in fresh supply, keeping pressure on long-term affordability.

• 📉 Rates nationally: Freddie Mac reports the 30-yr average at 6.35% — still near the lowest levels of 2025.

The Bigger Picture:
Locally, sellers are trimming prices even faster than homes hit the market, while closed sales volume shows buyers are still active. Nationally, the Fed’s cut could give affordability some oxygen, but new construction isn’t keeping up. In Pittsburgh, that means supply remains tight over the long run, even if buyers have leverage in the short run.

👉 Translation: Right now, buyers can negotiate. But if rates ease and supply stays constrained, today’s breathing room could vanish faster than expected.

🏠 Yinz. Gotta See This

If money were no object, I’d already have bought this house and never told you about it. Every once in a while, a property just stops me in my tracks. This is the ONE.

The location? Incredible. The home itself? Exquisite. Every room feels intentionally designed — professionally done, by the looks of it — with no expense spared. For the city dweller, this is the epitome of luxury city living in Pittsburgh.

Step inside and it just gets better. Classic architecture with modern touches, soaring ceilings, and spaces made for entertaining. Even the little details feel next-level.

Quick Hits:

• 🏠 Location: Premier Shadyside address, walkable to shopping, dining, and parks

• 🪞 Design: Classic 1900’s architecture meets luxury updates

• 🍽 Entertaining: Formal dining with chandelier + massive chef’s kitchen

• 🪵 Details: Natural wood, pocket doors, fireplaces, and bold finishes

• 🌳 Outdoor space: Private courtyard perfect for hosting or relaxing

• 🚗 Parking: Rare 3-car garage in the city

💰 List Price: $1,895,000
📅 Open House: NONE. Your gonna have to show POF and request a private showing on this one.

🍺 Pittsburgh Life

The city’s alive again — football, big shows, new openings, and projects shaping the 412.

Quick Hits:

• 🏈 Steelers Away This weekend — First away. game this season, Sunday at 1 PM EST vs. the Patriots. Will we turn it around after last weeks loss.

• 🎟️ Adam Sandler bring laughs too PPG Paints, Sept. 20 at 7:30 PM. What an absolute LEGEND!

• 🏗 Market Square Reno— $15 million deep on the regions most public space, on track to be completed

• 🌭 Frankies Extra Long with the deep history in Lower Lawrenceville. Some of the best sandwhiches you’ll find in the city. I had the hot sausage today, chef’s kiss.

• 🛣️ I-376 Parkway West: A $12.6 million preservation project between Campbells Run Road and I-79 is expected to be completed in the fall of 2025.

🎯 Weekend Radar – Sept 19–21

The ‘Burgh’s stacked this weekend — books, beer, block parties, spooky markets, lobster chaos, and world-class jazz. Here’s your hit list:

• 🤫 Silent Book Club (Sept. 16, Aslin Brewing) — Sip, chat, then shut up and read. 30 min of conversation, 60 min of silent reading. BYO book.

• 🍻 Penn Brewery Oktoberfest (Sept. 19–21, Northside) — Steins, schnitzel, oompah. Prost!

• 🥳 Party on the Mount (Sept. 20, Shiloh St) — Block party vibes, local bites, and Mount Washington views.

• 👻 Steel City Spooky Market (Sept. 20, Frankie Pace Park) — Oddities, horror merch, and creepy-cool vibes under the skyline.

• 🦞 Wholey’s Lobster Grab (Sept. 20, Wholey’s Fish Market) — One minute, two hands, as many lobsters as you can carry. Winner keeps their catch.

• 📚 Bottlerocket Bookfair (Sept. 20, Little Giant Studio) — Scholastic book fair nostalgia meets cocktails and candles.

• 🎷 Pittsburgh International Jazz Fest (Sept. 20–21, Liberty Ave) — Free outdoor concerts + ticketed specials. Expect the city to swing.