🏡 Pittsburgh’s Market is Booming, But There’s a Catch...

🍽️ Homes, Dinosaurs & Dumplings—This Week in Pittsburgh

Hey Pittsburgh,

This week’s newsletter is stacked—from a booming midrange housing market to a shake-up in new-home sales, plus dinos invading downtown and a brand-new restaurant you NEED to try. Whether you’re house-hunting, event-hopping, or just looking for a solid food recommendation, I’ve got you covered.

If your new here or reading this for the first time 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.

Now, let’s dive into what’s happening in the ‘Burgh this week! ⬇️

🏡 Pittsburgh's Midrange Market Is Booming—And Home Age Might Be the Reason

While many housing markets are cooling, Pittsburgh’s midrange real estate scene is on fire. Recent data shows that local homebuyers spend just 25.3% of their income on median-priced homes, making Pittsburgh one of the most affordable metro areas in the U.S. (Axios).

But here’s the surprising factor: the age of homes might be driving this surge. Unlike other metro areas where new construction dominates, Pittsburgh’s midrange market is filled with historic, character-filled homes that buyers are flocking to for their affordability, craftsmanship, and prime locations.

The tradeoff? Older homes come with quirks—some charming, some… less so. One of the biggest hurdles? Roofs. Many insurers won’t cover roofs over 15 years old, and that can lead to unexpected costs, deal delays, or even coverage cancellations (Pittsburgh Post-Gazette).

And trust me, I know this firsthand. See below 👇

When my wife and I bought our home, the seller’s disclosure said the roof age was "unknown"—which, if you’ve been in the real estate game long enough, you know is code for "it’s going to need replaced." We waived the inspection to stay competitive (after all, I’ve seen enough homes to spot major red flags), but I told my wife, "We’re going to have to budget for a new roof."

I had a strong feeling our insurance company would send us a "fix it or lose coverage" notice, so I actually pre-scheduled a message to my roofing contractor on closing day to check it out. And, like clockwork, 10 or 12 days into owning the house, boom—our insurance company hit us with the notice. No surprise there—I was already one step ahead.

For buyers and sellers, understanding how a home’s age affects its value and insurability is key. Whether you’re drawn to vintage charm or prefer something newer, Pittsburgh’s market is full of opportunities—just make sure you have a game plan for the unexpected.

🔗 Read the full article here

🏡 New-Home Sales Plunge 10.5%—A Warning Sign or Just a Blip?

New-home sales just took a 10.5% nosedive, dropping to a seasonally adjusted annual rate of 657,000 units, according to the U.S. Census Bureau. This decline not only exceeded analysts' expectations but also marked a 1.1% drop compared to January 2024.

What’s Causing the Slowdown?

Several key factors are behind this decline:

• High Mortgage Rates – Persistently elevated rates continue to push buyers out of the market, making affordability a growing concern Reuters.

• Brutal Winter Weather – Snowstorms and extreme cold in the Northeast and Midwest discouraged buyers from house hunting Reuters.

• Economic Uncertainty – Concerns over inflation and potential new tariffs are shaking consumer confidence, leading many to delay home purchases Inman.

Regional Breakdown

The drop in sales wasn’t uniform across the country:

📉 Northeast: Down 20%, as harsh winter conditions put a freeze on buying activity.
📉 Midwest: Dropped 16.7%, also hit by severe weather.
📉 South: Sales fell 14.8%, partially due to recent winter storms.
📈 West: Bucked the trend with a 7.7% increase, possibly due to milder conditions and economic factors Reuters.

What Does This Mean for Pittsburgh?

While this is national data, it’s worth considering how it might trickle down to Pittsburgh’s market. Historically, Pittsburgh has remained more stable due to its affordability and diverse economy. However:

• For Buyers – Higher mortgage rates may make affordability tougher, but lower demand could mean more inventory and better negotiating power.

• For Sellers – A possible slowdown in demand means pricing competitively and having a market-ready home will be key.

While one month’s data doesn’t indicate a full-on trend, it’s something buyers and sellers should keep on their radar as we move further into 2025.

🔗 Read the full article here

🛍️ Banana Republic Bids Farewell to Shadyside After 30 Years—What’s Next for Walnut Street?

After three decades, Banana Republic is closing its doors at 5542 Walnut St. in mid-March, marking another major retail shift in Shadyside Pittsburgh Business Times. The 15,000-square-foot store, which opened in the mid-1990s, has long been a staple of Walnut Street’s shopping scene.

Why Is It Closing?

According to Walnut Capital CEO Gregg Perelman, Banana Republic chose not to renew its lease, aligning with Gap Inc.’s broader strategy to scale back brick-and-mortar operations nationwide Pittsburgh Business Times. The move follows the recent closures of Gap and Athleta in the same district, suggesting a continued shift in retail priorities.

What Does This Mean for Shadyside?

Walnut Street has been experiencing a wave of retail turnover. National chains like Williams Sonoma have exited, making room for newcomers like Paris Baguette, while local independent shops like Amazing Books & Records have taken over spaces vacated by big brands Pittsburgh Business Times. Meanwhile, the Shadyside Apple Store is set to relocate into the former two-level Gap space, signaling that major brands still see value in the area.

What’s Next for Walnut Street?

Despite the changes, Walnut Capital remains optimistic about Shadyside’s future. Perelman expressed confidence in attracting new tenants to maintain the district’s reputation as a premier shopping destination Pittsburgh Business Times.

🔗 Read the full article here

🏡 Standout Properties of the Week: Mt. Washington Views & Squirrel Hill Charm

Every week, I handpick a couple of properties that truly stand out—homes that have that extra something that makes you stop scrolling and say, “Wow.” This week, we’ve got two showstoppers that couldn’t be more different but both offer something special.

One sits high above the city in Mt. Washington, blending modern luxury with stunning views. The other is a timeless Squirrel Hill classic, meticulously updated while preserving its historic charm. Whether you're drawn to sleek sophistication or vintage character, these homes have serious "dream home" potential. Let’s dive in!

✨ 372 Bradley St – $615,000 | Mt. Washington

📍 Mt. Washington | 🛏 3 Beds | 🛁 3.5 Baths | 📐 2,037 sq ft
🔗 View Listing

Modern luxury meets breathtaking views at this stunning Mt. Washington home! Located in The Woods at Bradley St., this sleek contemporary property features:

🏡 An open-concept first floor with top-tier stainless steel appliances, a double-sink island, and abundant natural light.
🔥 Spacious living & dining areas complete with a fireplace and wet bar—perfect for entertaining.
🛏 A primary suite fit for royalty with a private balcony, spa-like rain shower, and huge walk-in closet.
🌳 Outdoor oasis with private road access, landscaping, and snow removal included—because who actually enjoys shoveling?

This move-in ready masterpiece is tucked away in nature but minutes from Downtown, I-376, and Mt. Washington’s 5-star restaurants.

📍 Luxury + location = the perfect home!

🏡 1225 Denniston St – $750,000 | Squirrel Hill

📍 Squirrel Hill | 🛏 5 Beds | 🛁 3.5 Baths | 📐 Spacious & charming
🔗 View Listing

They don’t build them like this anymore! This fully renovated 1925 Squirrel Hill home blends classic charm with modern upgrades in one of Pittsburgh’s most desirable neighborhoods. Here’s what makes it special:

🔥 A grand living room with a log-burning fireplace—the ultimate cozy vibe.
🍽 A bright, open dining area with sliding doors leading to the backyard deck.
👨‍🍳 A chef’s dream kitchen with a huge island and top-tier finishes.
🧖 Finished lower level with heated floors, a home office, sauna, and guest suite.
🛏 Five spacious bedrooms, including a primary suite with a luxurious en-suite bath.

And here’s the kicker—this home is just blocks from Mellon Park, Bakery Square, and Squirrel Hill’s best shops & restaurants. Zoning approval is also in place to add a two-car garage.

📍 Location, history, and charm—all in one perfect home!

Thinking about making a move? Let’s schedule a private tour before these gems are gone! 💎 click the bottom right bubble to get in touch.

🎉 What’s Happening in Pittsburgh This Weekend?

Looking for something fun to do this weekend? Whether you’re a dinosaur lover, a wine enthusiast, or a chocolate connoisseur, Pittsburgh has you covered. Here are three can’t-miss events happening in the city!

🦖 Jurassic Quest: A Dino-Mite Adventure in Pittsburgh!

📍 David L. Lawrence Convention Center | 📅 Feb 28 – March 2 | 🎟️ Get Tickets

Step back in time and walk among the dinosaurs at Jurassic Quest, the largest and most realistic dinosaur event in North America. This family-friendly experience features:

🦕 Life-size animatronic dinosaurs that move and roar just like the real thing.
🦴 Interactive fossil digs for aspiring paleontologists.
🎢 Dinosaur rides, bounce houses, and more hands-on activities for all ages.

Dinosaur lovers, this is your chance to get up close and personal with the prehistoric world—but only for one weekend!

🍫🍷🥃 Pittsburgh Chocolate, Wine & Whiskey Festival

📍 Rivers Casino | 📅 March 1 | 🎟️ Get Tickets

Love chocolate, fine wine, and top-shelf whiskey? Then this event is a match made in heaven. The Pittsburgh Chocolate, Wine & Whiskey Festival is bringing together artisanal chocolatiers, world-class wineries, and whiskey distilleries for an evening of indulgence.

🍷 Sip on expertly curated wines and spirits while tasting handcrafted chocolates.
🍫 Discover gourmet chocolate pairings that will elevate your palate.
🎶 Enjoy live music, entertainment, and more as you sip and snack.

With two sessions available, you can pick the time that works best—just don’t wait too long, tickets are selling fast!

❄️🍷 Pittsburgh Winter Wine Fest

📍 25 Market Square | 📅 Feb 27 – March 2 | 🎟️ Get Tickets

If you’re looking for a cozy winter escape, the Pittsburgh Winter Wine Fest is the perfect way to warm up with a glass (or two) of your favorite wine.

🍇 Taste a variety of wines from local and regional wineries.
🎶 Enjoy live music while sipping your new favorite vintage.
🍽️ Pair your wine with gourmet bites from local food vendors.

Whether you’re a wine connoisseur or just looking for a fun night out, this event is a must-attend. Gather your friends, grab your tickets, and make it a night to remember!

No matter what you're in the mood for, this weekend is packed with exciting events. So, which one are you checking out? Let me know—I might just see you there! 🍷🦖🎉

🍜 New Restaurant Spotlight: Nan Xiang Xiao Long Bao Comes to Pittsburgh!

Big news for dumpling lovers—the legendary Nan Xiang Xiao Long Bao has officially landed in Pittsburgh’s SouthSide Works! Known for their Michelin Guide-recognized soup dumplings, this New York-based chain has expanded beyond its flagship Flushing location, bringing its signature Shanghai-style dumplings and noodle dishes to the Steel City.

What’s on the Menu?

🥢 Famous Soup Dumplings – Their handcrafted xiao long bao are stuffed with savory broth and tender pork, making them a must-try dish Nan Xiang Xiao Long Bao.
🔥 Pan-Fried Pork Buns – Crispy on the outside, juicy on the inside—these Shanghainese buns are a fan favorite Nan Xiang Xiao Long Bao.
🍜 Braised Beef Noodle Soup – Rich, comforting, and packed with deep flavors, this is perfect for Pittsburgh’s winter Nan Xiang Xiao Long Bao.
🌶️ Shanghai Wontons in Spicy Peanut Sauce – A savory, spicy, and creamy dish that packs a punch Nan Xiang Xiao Long Bao.

karen.hoang

View more on Instagram

Plan Your Visit!

📍 Location: 2773 Sidney St, Pittsburgh, PA (Southside Works)
🕒 Hours:

• Mon–Thurs: 11:00 AM – 10:00 PM

• Fri–Sat: 11:00 AM – 11:00 PM

• Sun: 11:00 AM – 9:00 PM

With a near two-decade legacy and nine years of Michelin Guide recognition, Nan Xiang Xiao Long Bao is bringing an authentic taste of Shanghai to Pittsburgh. Whether you're a dumpling devotee or just looking to try something new, this spot is already making waves.

🍽️ Who’s down for a dumpling feast? Let me know if you check it out!

📩 That’s a Wrap – See You Next Week!

From Pittsburgh’s hot midrange market to Jurassic-sized weekend plans, this week had a little bit of everything. If you’re out and about, whether it’s sipping wine, dodging dinosaurs, or slurping soup dumplings, enjoy it!

And hey, if your weekend includes roof repairs (I feel your pain), just know you’re not alone. 😅

Catch you next week—same time, same place, with more real estate insights, local happenings, and a few surprises. Until then, go enjoy Pittsburgh!

Thinking About Buying or Selling?

Let’s chat about how to navigate Pittsburgh’s real estate market. Whether you’re looking to buy, sell, or invest, I’m here to help. Hit reply, or schedule a consultation here: 15 Min Consultation

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Need to know how much your home is worth? Enter in your information below 👇

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

Disclaimer:
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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