Question: People in San Francisco, Boston and New York think it odd to see a real estate listing for under $150K. Is it true in.... Question: People in San Francisco, Boston and New York think it odd to see a real estate listing for under $150K. Is it true in some cities it is possible to purchase a home for less than $25,000? Less than $10,000? Less than $5,000?

Answer: Yes. From the extent of my knowledge, two places you can come across prices like these are Baltimore and Pittsburgh. Here is one listing I pulled up in Baltimore listed at $5,000. I understand that the market in Baltimore has increased significantly in the past few years and listings at these prices are becoming fewer.

Most central cities in the U.S. have seen an increase in population since 1990. Located between Philadelphia and Washington, having great transit access and great housing stock, I don't personally see how Center-City Baltimore's future could be anything but bright.

Pittsburgh is experiencing similar trends. Unlike Baltimore, Philadelphia and Washington, DC, Pittsburgh has less housing stock located in the central city. The neighborhoods that are within walking distance are the Hill District and the Northside. Being familiar with the Northside, I know the cost of housing, still available in a wide-array of conditions, has gone up in the past decade, at least in terms of listing and selling prices.

I also know of no fewer than three properties advertised at less than $6,000. The ones I have toured are far from being in move-in condition. There are houses in the $15,000-$25,000 range that are in need of cosmetic upgrades for the most part and are in livable condition.

For more information on homes in Pittsburgh, feel free to call me at 412-322-2842 or visit DunnRealtor.com

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