Real Estate Market Trends for August 2013 in the Poconos are continuing to show positive signs. We love to see the foreclosure rate continue to drop. That helps ALL of us!
NUMBER OF HOMES SOLD
The Number of Homes sold has gone up again! This now makes 10 months in a row. For August 184 homes were sold and this is UP BY 2% when compared to last year which was 179 homes sold for Aug. 2012. GREAT NEWS!
AVERAGE SOLD PRICE
The Average Sold Price of those homes sold has gone up again too! For August 2013 the Average Sold price was $139K whereas the average sold price for August 2012 was $136k, UP 1%. GREAT NEWS!
Other Important Statistics to consider in our Poconos Real Estate Market Report for August 2013:
The Number of Foreclosures Sold for the month was 36, 20% of the total sold and down from previous months.
The Average Days on the Market dropped by 5% to 160 days..
The Absorption Rate dropped 27% to 15 months versus 21 months for Aug. 2012.
The Sold to List Price Ratio stayed constant at 94%, same as last month.
The Number of Active Listings is down by 13% to 2370 listings versus 2725 for Aug. 2012.
The Number of Pending Homes is 249, up by 64% versus 152 for Aug. 2012
IN SUMMARY, these Statistics confirm that we are continuing on our road to recovery in the Poconos Real Estate Market. All the Stats that we need to see going UP are going UP, and the Stats that we need to see going down, are going down. To be in a balanced Market the Absorption Rate needs to be around 6-7 months. Although we are currently at 15 months, A Strong Buyer’s Market, it is a great decrease from the last several years which have been in the 20-24 months Absorption Rate. We are improving. We are also seeing a rise in our sold prices. With the increased demand, now 10 months in a row, comes better prices. Our prices are now down only 2% for the year and if this trend continues we hope to see this number go to zero or maybe even to a +1 at years end. ALL GREAT NEWS!
NOW IS THE TIME TO SELL YOUR HOME IN THE POCONOS! These Market Statistics are the best we have seen in years. If you are ready to get your house back on the Market for sale please give me the opportunity to discuss it with you. Please give me a call or drop me an email. 570-242-1891 or firstname.lastname@example.org.
*originally posted at www.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
(Certified Residenial Specialist-CRS)
570-242-1891 Cell Best (Call or Text)
Email me now: email@example.com
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