🏌️ U.S. Open in Full Swing, But the Market’s Easing Off the Gas

🏡 Real Estate Revelations

🏡 Real Estate Revelations
June 14, 2025 Edition | Read Online

The U.S. Open is flooding Oakmont. Mortgage rates are climbing again. And the market? It's tapping the brakes. New listings stayed solid this week, but sales and contingent contracts dipped — a sign that buyers are watching the numbers more closely than ever.

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, I’ve got one of the most unique listings in Murrysville, a clean market breakdown, where to eat Sichuan that’ll melt your face (in a good way), and the 5 best things to do while Pittsburgh plays host to the biggest golf event of the year.

Let’s get into it. ⬇️

🏡 Standout Property: 3412 Lashan Dr, Murrysville, PA

Mid-century flair meets architectural serenity on nearly 3 wooded acres in Murrysville. Inspired by Frank Lloyd Wright, this custom home blends organic design with modern livability.

With walls of windows, a show-stopping solarium, and flowing open spaces, it’s built to embrace the outdoors year-round. Natural light floods the interior while soaring ceilings, a curved staircase, and custom woodwork add warmth and character.

Bonus features? Elevator access, a finished walk-out lower level, and peaceful privacy you won’t believe until you see it.

💰 Listed at $900,000 | 📍 Franklin Regional SD
🕐 Open House: Sat, June 14, 1–3 PM

📉 Market Snapshot – as of June 14, 2025

🏦 Mortgage Rates: Still Creeping Up

Rates ticked up again this week, keeping buyers squeezed and affordability tight:

💡 Takeaway: MBS pricing is significantly weaker again, which means continued pressure on rates. Buyers should lock early. Sellers? Price it right, or prepare to chase the market.

🏘️ Local Market Snapshot – Week-over-Week (7-Day Window)

📉 Interpretation:
Across the board, activity slowed. New listings held steady, but sold homes, contingents, and price reductions all dipped. The pace is cooling slightly — likely a mix of buyer fatigue, rising rates, and sellers needing to recalibrate after last week’s price-slashing.

💵 Sold Homes This Week (590 Total)

• Avg List Price: $314,587

• Avg Sold Price: $311,073

• SP/LP Ratio: 98.17%

• Median DOM: 27 days

📌 Note: While fewer homes closed this week, the SP/LP ratio stayed strong, and homes that are priced right are still moving near ask. Don’t panic about the average price — it fluctuates weekly based on the mix of homes sold.

📉 What Price Reductions Show Us

Last week saw a surge in price cuts — this week, a pullback. But 600 homes still dropped price, while only 18 raised theirs.

That tells us sellers are still adjusting to today’s buyer — one who’s budget-conscious and rate-aware. With fewer reductions and more expireds, overpriced homes are now simply getting passed over.

🌈 Weekend Radar – June 14-16

Still riding the U.S. Open buzz — or avoiding the crowds completely? Either way, there’s plenty happening across Pittsburgh. Here are 5 standout events:

🎉 Babesburgh Bash
📍 Saturday | Allegheny Landing Park
110+ women-owned vendors, food, drinks, fitness sessions, and femme-forward energy. Shop, sip, and celebrate from 3–9 p.m.

🦖 DinoFest at Carnegie Museum
📍 Saturday | Carnegie Museum of Natural History
Fossils, dino yoga, hands-on activities, and expert talks for kids (and kids-at-heart). Free with admission, 10 a.m.–5 p.m.

🚗 Bridgeville Day on the Avenue
📍 Saturday | Downtown Bridgeville
Local food, vendors, live music, a car cruise, and family-friendly activities. Runs 11 a.m.–5 p.m. on Washington Ave.

🎶 Santigold at the Roxian
📍 Saturday | Roxian Theatre, McKees Rocks
Genre-defying icon Santigold brings her high-energy set to the stage. Doors at 7 p.m., show at 8 p.m.

🍸 Carnegie Science Center 21+ Pride Night
📍 Friday | North Shore
Pride cocktails, drag shows, karaoke in the planetarium, and science after dark — for grown-ups only. 6–10 p.m. Tickets: $20–$25.

⛳️ U.S. Open – Final Stretch at Oakmont

We’re down to the wire.

The final two rounds of the 124th U.S. Open are playing out right now at Oakmont Country Club, and the leaderboard is getting spicy. Whether you're tuning in between showings or dodging traffic from the Uber driver's seat, it’s worth checking in.

👀 Click here to see who’s leading live

🏆 The winner will be crowned Sunday evening — and if history tells us anything, Oakmont doesn’t hand out trophies easily.

TL;DR – Your Pittsburgh Weekend Cheat Sheet

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

⚡️ TL;DR – This Week at a Glance

• 🏡 Standout Listing: A jaw-dropping Frank Lloyd Wright-inspired stunner in Murrysville — walls of glass, custom woodwork, and nearly 3 private acres. See it here

• 📉 Market Update: Mortgage rates are climbing again. New listings held steady, but sales and contingents dipped — signs of a market catching its breath.

• 🏘️ Solds This Week: 590 homes closed. SP/LP ratio at 98.17%. Median time on market: 27 days. Well-priced homes still move fast.

• 🎉 Weekend Radar: DinoFest, Santigold live, Babesburgh Bash, Pride Night at the Science Center, and Bridgeville’s block party.

• ⛳️ U.S. Open Watch: Final rounds at Oakmont are underway. Track the leaderboard live and see who’s closing strong.

🥟 Bonus Bite – Hidden Gem Worth the Detour

📍 Chengdu Gourmet – Squirrel Hill
Craving bold flavors this weekend? Head to Chengdu Gourmet, a no-frills spot that packs serious heat and flavor. Led by James Beard Award semifinalist Chef Wei Zhu, this restaurant is a favorite among local chefs and foodies alike.

🔥 Must-tries:

• Dry Chili Chicken

• Mapo Tofu

• Soup Dumplings

• Cumin Lamb

It’s BYOB, super casual, and one of Pittsburgh’s best-kept secrets for authentic Sichuan cuisine.

👉 Explore the menu

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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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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