Feb 11, 2025 - News
One chart to go: New vs. existing housing prices
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It's much cheaper to buy an existing home than new construction in Pittsburgh, per the latest from Realtor.com.
The big picture: The median list price of a new build in the U.S. was $449,967 last quarter. That's compared to $395,800 for an existing home.
Zoom in: Pittsburgh's existing homes are some of the cheapest in the nation, with a median list price of approximately $220,000.
- In contrast, its median list price for new construction — approximately $475,000 — was above national averages.
Between the lines: In the Midwest and Northeast, the bulk of new construction is high-end and is being created less frequently, Realtor.com's Joel Berner tells Axios.
Correction: The chart's headline was updated to show that the listing prices are medians (not averages).