Real Estate Market Report in Pocono Summit PA - October 2014

Pocono Summit PA Real Estate Market Report - October 2014

 

It is an improved market in Pocono Summit since last October no homes were sold and this October 7 homes were sold. That is IMPROVED!

 

Pocono Summit PA Real Estate Market Report - October 2014

 



THE AVERAGE SOLD PRICE:

 

The Average Sold Price of homes sold in Pocono Summit PA for October was $95k.

 

The Average Sold price in the Poconos for October was $137k.

 

NUMBER OF HOMES SOLD:

 

The Number of Homes Sold in Pocono Summit PA for October was 7. Good to see that the number of homes sold on a monthly basis continues to increase.

 

The Number of Homes sold in the Poconos for October was 267.

 

YEAR TO DATE STATISTICS FOR 2014 in the Pocono Summit PA Real Estate Market Report:

 

The Year to Date Average Sold Price in Pocono Summit PA for 2014 is $92K , DOWN 21%, when compared to $116k for 2013.

 

We have to remember that foreclosures accounted for 30% of the sold homes in Monroe County for October and 43% of the sales for Pocono Summit PA.

 

The Average Sold Price for Monroe County year to date is down 2.8%.

 

The Number of Homes Sold Year to Date in Pocono Summit PA for 2014 is 38 compared to 22 for 2013.  A 73% increase. Very nice.

 

This month makes 24 months in a row that the number of homes sold in the Poconos (Monroe County) has exceeded last years numbers. With increased demand comes an increase in prices, eventually. The Absorption Rate needs to drop to around 6 months to be a balanced market, and the foreclosure rate needs to drop to below 20% and then at that point we have our best chances of seeing our prices begin to rise again, steadily.

 

More Important Statistics to consider in the Pocono Summit PA Real Estate Market Report for October 2014 in the Poconos are:

 

The Average Days on the Market was 162.

 

The Sale to List Price Ratio was 98%.

 

The Absorption Rate is 14 months

 

The Number of Pending homes is 13

 

The Number of Active Listings is 65



These trends in the Pocono Summit PA Real Estate Market Report tell us that it is a Great Time to sell your home in Pocono Summit PA. When looking for a Pocono Summit Real Estate Agent to help you sell your home in the Poconos, give Bobbie a call. Together with RE/MAX of the Poconos we will get you to your goal. SOLD!



Poconos Real Estate Market Report for October2014

 

Pocono Summit PA Real Estate Market Report for July 2014

Pocono Summit PA Real Estate Market Reort for June 2014

Pocono Summit PA Real Estate Market Report for May 2014

Pocono Summit PA Real Estate Market Report for April 2014

Pocono Summit PA Real Estate Market Report for March 2014

Pocono Summit PA Real Estate Market Report for February 2014

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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

(Certified Residenial Specialist-CRS)

570-242-1891 Cell Best (Call or Text)

570-421-2345 Office 

RS#274017 

Email me now: bobbiej51@hotmail.com    

Search the Pocono MLS for a home

RE/MAX OF THE POCONOS

All pictures, text, etc. stated within is the exclusive property of Bobbie Smith and cannot be copied or duplicated without written consent from Bobbie Smith.  All statistics and data contained herein are obtained from reliable sources and are deemed reliable however each individual should always do their own research on each topic and derive their own conclusions. Any statements of opinion are just that, the opinions of Bobbie Smith. *Realtor is a registered trademark of NAR*

Comment balloon 10 commentsBobbie Smith • November 13 2014 05:25AM
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