Luxury Outlook 2022 | Racheallee Lacek

A VIEW FROM PITTSBURGH A

s a part of the Piatt Sotheby’s International Realty team, Racheallee Lacek works hard to understand clients’ needs and exceed their expectations.

For the past two years, Racheallee has been recognized as Who’s Who in Residential Real Estate by the Pittsburgh Business Times, totaling sales excess of $5 million or more. Being centrally located in Downtown Pittsburgh truly helps Racheallee be the “Downtown neighborhood specialist,” as she both lives and works in the growing metropolis. Racheallee is versed in many Pittsburgh neighborhoods, from trendy Lawrenceville to the outer suburbs including vacation areas such as the Laurel Mountains.

Clients have said she has eased the stress of buying and selling their homes, and described Racheallee as “enthusiastic, professional, and eager.” In addition, she truly cares about the city, and thrives on being actively involved in Pittsburgh’s renaissance through hosting

and attending events, frequenting charity functions, and promoting and using local Pittsburgh businesses.

Racheallee was nominated for Woman of the Year in 2013 for the Leukemia and Lymphoma Society, as well as Faces of Gilda in 2011, 50 Finest Nominee Cystic Fibrosis in 2007.

Racheallee is a 2017 Epiphanon Ring of Excellence Recipient, recognizing her talents as a real estate agent.

RACHEALLEE LACEK Global Real Estate Advisor, Realtor® Piatt Sotheby’s International Realty 412.225.3404 • rlacek@piattsir.com thelacekgrouppa.com

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Million-dollar home sales shattering records in 2021

By Ethan Lott – Research Director, Pittsburgh Business Times Jan 2, 2022 Updated Jan 7, 2022, 1:38pm EST A million dollars isn’t what it used to be, when it comes to house buying.

It used to be, in the Pittsburgh region, that seven-figure sales were noteworthy. Seven years ago, the region averaged about five seven-figure sales per month. Now, that figure is over 20 and climbing.

From 2014 to 2017 there were no months in which more than 20 milliondollar homes were recorded in the Business Times Leads section. In 2018, two summer months topped that figure. But 20 seven-figure homes sold in a month were scarce again, not happening at all in 2019.

After the pandemic closures in early 2020 led to released pent-up demand and a desire by many to make changes to their living situation, three months in 2020 topped 20 high-end homes sales.

In 2021: every month since April has seen this number eclipsed, topped by 37 million-dollar sales in July.

So, suffice it to say, 2021 is already a record year for high-end home sales in the Pittsburgh region, with more than a month of data yet to be recorded.

Prior to the pandemic, 2018 was the record year, with 145 million-dollar sales recorded in Leads. It dipped slightly to 123 in 2019, still the secondmost on record. In 2020, there were 171 such sales, with 136 coming after the reopening in June. This year: with about half the sales for November recorded thus far, there have been 236 million-dollar home sales, almost twice the number in 2019.

Five years ago, fewer than 90 homes million-dollar homes were recorded in Leads all year. More than a third of that total sold in July 2021 alone, 37.

MILLION-DOLLAR HOME SALES SKYROCKET Since the June 2020, after a pause due the pandemic, home sales in general and high-end homes took off. This is a look at million-dollar home sales by month appearing in the Business Times weekly Leads section over the past seven years. Hover over an individual month’s label at the bottom to compare months through the years. The number of high-end homes sold in the region is already 38% higher than last year’s record with about six weeks worth of sales yet to be recorded. The second chart shows the months with at least 15 such sales recorded. The eight highest totals have all been since last June.

By far, the tony areas north of the Allegheny and Ohio Rivers are where the largest concentration of high-end homes are located. The North Hills and Cranberry area have had 75 million-dollar home sales thus far in 2021. Nearby Sewickley adds another 26 and the Fox Chapel area and Oakmont areas add another 28.

The South Hills down into Washington County has had 34 million-dollar homes sell this year. Another eight sold in Westmoreland County.

City neighborhoods — primarily Squirrel Hill and Shadyside, but also including some Downtown, Strip District and Mount Washington addresses — added 55 high end homes.

On the other end of Mount Washington, the views are pretty amazing as well, and several townhomes with this overlook sold for seven-figures in 2021 as well.