Stacked in the Steel City: Homes, Ribs & Bananas

🏡 Real Estate Revelations
Aug. 29, 2025 Edition | Read Online

Summer’s closing stretch in Pittsburgh always feels like one big balancing act — kids are back in school, football is back on the calendar, and weekends are suddenly overflowing with festivals, ribs, and baseball circuses (looking at you, Savannah Bananas). It’s that sweet spot where the city feels alive, but the market starts to shift gears.

If you're new here, I’m Pittsburgh’s Go-To Realtor, Expert in Luxury Homes & Strategic Real Estate Solutions, and someone who’s proud to combine small-town roots with big-city results. Over the years, I’ve sold millions of dollars worth of real estate, met some incredible people, and had the privilege of helping them buy and sell some truly amazing properties.

This week we’ve got a Mt. Lebanon stunner that nails “classic Cape Cod with modern flow,” a market snapshot showing where the numbers are cooling, and a STACKED weekend lineup — football, festivals, ribs, and jazz — plus a cocktail lounge in East Liberty that’s already making noise.

Tim’s Pick of the Week 

🏡 Standout Property: 930 Valleyview Rd — Mt. Lebanon

Listed at $1,395,000 | 4 beds • 3.5 baths • ~3,532 sq ft

Every once in a while, a house comes along that just feels right. 930 Valleyview is that kind of place. It’s tucked in Mt. Lebanon’s Virginia Manor — one of the neighborhoods people whisper about when they talk “dream house.” White brick, classic lines, the kind of curb appeal that makes you slow down when you drive by.

Inside, it’s not stiff or overly formal — it’s been opened up and reworked so the whole place just flows. The first-floor owner’s suite is a legit bonus (rare for Mt. Lebanon), and every single bathroom has been updated so you don’t have to play the “what decade is this tile from?” game.

And the outdoor space? Perfect mix of privacy and hangout potential. The new patio is basically begging for a firepit and some good bourbon, and the landscaping makes it feel tucked away even though you’re still right in the middle of everything.

📅 Open House: Sunday, Aug 31 | 1–3 PM
👉 Full tour here

📊 Market Snapshot – Aug 29, 2025

Mortgage rates cooled slightly this week, keeping affordability steady and giving buyers just enough confidence to keep deals moving. On the local side, new listings pulled back while withdrawn homes spiked — a sign that some sellers would rather regroup than cut prices further.

🔍 7-Day Market Activity (Residential)

📊 Market Activity Comparison

🧮 Sold Property Stats (710 sales)

• 💰 Median Sale Price: $245,000 (↓ $5,000 from last week)

• 💸 Average Sale Price: $299,885 (↓ ~$25K)

• ⏳ Avg Days on Market: 41 (↓ 2)

• ⚡ Median DOM: 23 (↓ 3)

• 🔥 SP/LP Ratio: 97.26% (down from 98.28%)

💸 Mortgage Rate Check (as of Aug. 29, per Mortgage News Daily)

📉 30-Year Fixed Mortgage Rate Trend (Aug 2025)

• 30-Year Fixed: 6.50% (steady)

• 15-Year Fixed: 5.86% (↓ 0.04)

• 30-Year FHA: 6.06% (↓ 0.05)

• 30-Year Jumbo: 6.45% (↓ 0.10)

• 7/6 SOFR ARM: 5.90% (↓ 0.09)

• 30-Year VA: 6.08% (↓ 0.05)

📌 Takeaway

• Listings are slowing: down 11% week-over-week, showing sellers easing off as we head into fall.

• Withdrawn listings spiked 22%: some sellers are pulling the plug instead of reducing further.

• Prices softened: median and average sale prices both slid, and homes are selling just under 98% of list.

• Rates remain steady: small drops across FHA, VA, and Jumbo loans continue to help rate-sensitive buyers.

Sellers: Price to today’s market, not last season’s peak.
Buyers: Be ready to act — steady rates + fewer listings means good homes will still move fast.

🎉 Happening This Weekend in Pittsburgh – Aug 29–31

It’s a STACKED weekend in the ‘Burgh — football is back, festivals are everywhere, and even the Savannah Bananas are in town to keep things wild. Here’s what’s going down:

🐾 Pupsburgh Kickoff — Mellon Square | Fri, Aug 29
Support local animal shelters while hanging out with adoptable pups, enjoying coffee, music, and community vibes at the kickoff of Pupsburgh.

🎭 Select Start Improv Show — Arcade Comedy Theater | Fri, Aug 29, 9 PM
A night of quick, clever comedy with the Select Start team performing fast-paced improv games fueled by audience suggestions.

🎧 The Cure Jam: 90s–00s Throwback Party — Renaissance Hotel | Fri, Aug 29, 7–10 PM
Dance the night away at a nostalgic throwback party benefiting the Cystic Fibrosis Foundation — epic jams for a great cause.

🎬 Barbie (2023) Screening — Rangos Giant Cinema | Fri, Aug 29, 7 PM
Catch Barbie on the big screen as she leaves Barbie Land and faces the ups and downs of the real world.

📚 Lit Fridays — Virtual | Fri, Aug 29, 6–9 PM
Join the August Wilson African American Cultural Center for Lit Fridays — replays, talks, and conversations with artists and thinkers of the African Diaspora.

🍻 Yappy Hour — Strip District Terminal | Fri, Aug 29, 5–8 PM
Bring your pup and join fellow dog lovers for Yappy Hour with music, food, and fun for both people and pets.

🍖 Kickoff & Rib Festival — Acrisure Stadium Campus | Aug 28–Sep 1
The city’s ultimate rib fest returns with BBQ pit masters, live music, carnival rides, and plenty of tailgate energy.

🍌 Savannah Bananas — PNC Park | Fri–Sat, Aug 29–30
Banana Ball hits Pittsburgh with two nights of Savannah Bananas baseball — wild routines, choreographed antics, and nonstop entertainment.

⚾ Bananas Watch Party — Mike’s Beer Bar | Fri–Sat, Aug 29–30
If you didn’t score tickets, catch the watch party across from PNC Park with Banana Beer and game-day energy.

🏈 Pitt vs. Duquesne — Acrisure Stadium | Sat, Aug 30, 12 PM
College football is back — and the City Game rivalry returns for the first time in 86 years.

🚲 Gems of Pittsburgh Bike Tour — North Side | Sat, Aug 30, 3–6 PM
Pedal through five neighborhoods on this guided bike tour — a 9-mile ride full of local stories and hidden gems.

🛡️ Knights of the Arcade — Arcade Comedy Theater | Sat, Aug 30, 9 PM
A D&D-inspired comedy quest with improv actors leading the crowd through hilarious adventures.

🍗 Soul Food Festival — Downtown | Aug 29–31
Celebrate Black culinary culture with the Soul Food Festival — live music, vendors, and mouthwatering dishes all weekend.

🎨 I AM WILD: Charley Harper Exhibit — Children’s Museum | Sun, Aug 31
Last chance to catch I AM WILD before it closes — a vibrant look at Charley Harper’s wildlife-inspired artwork.

🏐 State Farm Women’s College Volleyball Showcase — PPG Paints Arena | Sun–Mon, Aug 31–Sep 1
Top teams (Penn State, Pitt, TCU, Arizona State) clash in the volleyball showcase.

🏃 Steelers Run & Walk — Labor Day, Mon, Sep 1
Join the annual Steelers Run & Walk fundraiser — get active with fellow fans before NFL season kicks in.

🍻 Teutonia Männerchor Oktoberfest — North Side | Aug 29–31
Raise a stein at Oktoberfest with German food, beer, and live music in Pittsburgh’s premier German club.

🍷 Rock the Pour Festival — Castle Shannon VFD | Sat, Aug 30
Sample regional wine, spirits, and beer at Rock the Pour with food vendors and live music.

🎶 Monty Alexander at Hartwood Acres — Sun, Aug 31, 7:30 PM
The Allegheny County Summer Concert Series closes with jazz legend Monty Alexander — food trucks and drinks on-site.

⚡ It’s also the last weekend without NFL regular season football — so soak it all in.

🍸 Bonus Bite: Hey Babe

Where: East Liberty, inside the Maverick Hotel lobby

Meet Hey Babe — a retro-chic cocktail lounge from Danielle Cain and Rob Hirst, set in the former Ace Hotel space. The vibe is pure mood: velvet booths, globe pendants, and just enough throwback energy to feel timeless.

The menu backs it up too, with shareable bites like crispy eggplant and five-spiced pork belly, plus a cocktail list that’s fun without trying too hard. Think a Suntory Toki–based Summer Moon or a $9 gin martini that’ll make you rethink where your “regular spot” should be.

I haven’t been yet, but the early buzz (see the Good Food Pittsburgh) review says it’s already staking its claim as one of the city’s best new hangouts.

🧠 TL;DR – What You Really Need to Know

For when you're scrolling at red lights (not that you’d admit it)

• 🏡 Standout Property: 930 Valleyview Rd in Mt. Lebanon — white brick Cape Cod in Virginia Manor with a first-floor owner’s suite, gorgeous flow, and a patio made for bourbon + firepit nights. Open house Sunday, Aug 31.

• 📊 Market Snapshot: New listings dropped 11% while withdrawn homes jumped 22%. Prices softened slightly, and rates (30-yr fixed at 6.50%) are holding steady after last week’s dip.

• 🎉 Weekend in Pittsburgh: STACKED lineup — Pitt vs. Duquesne, Rib Fest, Savannah Bananas at PNC Park, Soul Food Festival, Oktoberfest, Rock the Pour, Monty Alexander at Hartwood Acres, and way more.

• 🍸 Bonus Bite: Hey Babe — East Liberty’s retro-chic cocktail lounge serving shareable bites and standout drinks in the old Ace Hotel space.

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Thanks for letting me be a part of your inbox this week! I hope you found these insights helpful, whether you're a curious Pittsburgher, a buyer, a seller, or an investor. As always, I’m here to answer any real estate questions or just chat about the market.

Wishing you a wonderful week ahead,
Tim

Tim Pettigrew
Realtor | eXp Realty
📍 Serving Pittsburgh and Surrounding Areas
📞 412-545-6006 | ✉️ [email protected]
🌐 Visit My Website

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This email is intended for informational purposes only and is not intended to be a solicitation if your property is currently listed with another broker. All real estate information is deemed reliable but not guaranteed. Please consult a professional for specific advice.

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