Steel City Weekly

Sept. 5, 2025 Edition | Read Online

New look. New vibe. This newsletter’s now shorter, punchier, straight to the point. Just the market moves, properties worth your time, and what’s buzzing in the ‘Burgh.

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 →

Mortgage rates just dropped to their lowest point this year — back to Fall 2024 levels.

• 30-yr fixed: 6.29% (down 0.16% this week)

• 15-yr fixed: 5.60% (down 0.21%)

• FHA & VA loans are both dipping under 6%

Allegheny County Numbers (August):

• 💵 Mortgage rates: 30-yr fixed at 6.29% → lowest of 2025

• 🏠 Active listings: 8,633 vs. 6,743 last year → +28% inventory

• 🛒 Closed sales: 2,520 vs. 2,500 → basically flat (+0.8%)

• 🔻 Price reductions: 743 this week vs. 625 last week → +19%

The Bigger Picture:
We haven’t seen active inventory this high since 2019. But here’s the difference: back then, demand was stronger. In August 2019, there were 3,096 sales compared to just 2,520 this August. And rates in 2019 were lower, giving buyers more buying power than they have today or even just making it possible for them at the time.

So what does that mean? Sellers are feeling pressure to cut prices, buyers have more homes to choose from, but demand isn’t as strong as past cycles. That creates a window — but only for those who act while rates stay in this range.

👉 Translation: More inventory + softer demand + easing rates = buyers have leverage. Sellers, the days of automatic bidding wars aren’t here right now. Price sharp, and be ready to negotiate.

🏠 Yinz. Gotta See This

Nearly a full acre in Rostraver — and listed under 300k. This Cape Cod has room to breathe inside and out.

👉 You gotta see this one.

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Quick Hits:

• 🛋️ Open flow from living → dining → kitchen

• 🚪 French doors to a low-maintenance Fiberon composite deck

• 🛏️ 4 bedrooms, 2 full baths (2 up, 2 down)

• 🏋️ Walk-out basement ready for a gym, game room, or storage

• 🚗 Integral garage + carport + long driveway (parking solved)

• 🔧 Updates: HVAC, retaining wall, driveway, deck, added bed & bath

• 🆕 Breaking news: Brand new stainless steel appliances being installed this week

🍻 Pittsburgh Life

The city’s humming again — football, festivals, and fresh spots worth checking out.

Quick Hits:

• 🏈 Steelers kickoff this Sunday vs. the Jets at 1:00 PM EST. Get those FanDuel picks in now — place your bets here. And no, you won’t find me hosting an open house during a Steelers game.

• 🍝 The Villagio Boutique Hotel, Ristorante, and Cigar Lounge (aka Rocco’s Ristorante by Villagio) just opened on the North Side. Think luxe Italian dining, a swanky cigar lounge, and a boutique hotel rolled into one — opulent décor, craft cocktails, and old-world family tradition on every plate.

• 🏘 53rd Mexican War Streets Home Tour is happening this weekend. Chances are if your seeing this just now, you missed out on an opportunity to step inside one of Pittsburgh’s oldest and most storied neighborhoods (they’re sold out). If you did, lucky you, you won’t have to wait until next year. Seriously some of Pittsburgh’s most beautiful and architecturally unique homes you’ll find.

• 🏈 Pitt Panthers are on the road this weekend — the city still bleeds blue and gold no matter where they play.

• 🏗 Albion Lawrenceville on Butler Street is closing in on completion. A historic firehouse transformed into 267 apartments with a modern edge, expected to deliver late 2025.

Bridges, beers, and black n’ gold — the weekend in Pittsburgh writes its own story.
👉 See what’s goin’ down →