Well, here are the Stats for February in the POCONO REAL ESTATE MARKET TRENDS. As you can see the number of homes sold for the month (70) is down 23% from Feb. of 2009 (92). Bummer! My hopes of an earlier rebound (January's positive stats) has been shattered. Boo Hoo!!! The average sale price for February was $135,503, down 8% from Feb. of 2009 (148,486) Below is the graph illustrating the stats.
One cannot help but wonder, are the foreclosures in our market place the cause for these POCONO REAL ESTATE MARKET TRENDS. Well, they are not the only cause, the Economy is the main cause I am sure, however having a lot of foreclosures in your market place certainly does not help. What happened to loan modifications under the stimulus plan? Is anyone opting out for short sales in an effort to avoid foreclosure? We really need the foreclosure rate to start dropping, or at least see some signs of them tapering off. Pleaseeeeeee!
Stats were taken from flexmls on 3-3-10 and are deemed reliable. I am not responsible for any typographical errors.
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Bobbie Smith, CRS
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