Pocono Real Estate Market Report - November 2014
Taking a look at the Pocono Real Estate Market Report for November 2014 we see several good points.
The Average Sold price of homes was $136k which is DOWN 4.48% from November of 2013 but the same as the average sold price of $136k for October 2014.
The Number of Homes sold was 209 homes which is up by 7.7% from November 2013 but down from the 267 sold for October 2014.
The Number of Pending homes is 240, up 35.6% from November of 2013 but down from 291 for October 2014. We’re still rolling strong.
The Absorption Rate (shown below) dropped to 11.65 months versus 13.97 months for November 2013 and 13 months for October 2014.
Other important items to review when looking at the Pocono Real Estate Market Report are:
The Number of Active listings rose 1.5% to 2,334 homes, County wide.
The Average Sold Price of homes, year to date is $132,145, down 3.11% from last year at this time.
The Foreclosure rate of sold homes for the Month was 32.5%.
The Average Days on the Market of the homes that sold rose to 161 days.
The Absorption Rate dropped to 11.65 months from 13.97 for Nov. 2013
The Absorption rate shows that we continue to be in a very strong Buyers Market.
A balanced market would have an Absorption rate of around 6 months.
To sell your home in the Poconos in such a strong Buyers Market you must be priced to compete, which means the same as your competition or better yet, lower than your competition.
Visit homesinthepoconosforsale.com to search for a home that is just right for you.
*originally posted on homesinthepoconosforsale.com
When looking for a Realtor© in the Poconos that will listen, assist and guide you without "pushing" you, contact Bobbie Smith. I would love to help.
Bobbie Smith, CRS
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