Several months ago I had posted for you The Real Estate Market Trends for the # of homes sold in Pocono Real Estate up to the Month of April.
Sorry for the tardiness, forgot to update the posting for you so here it is. The original posting can be found at http://bit.ly/rIJENa.
Now that we are up to October we can get a better “feel” for The Pocono Real Estate Market Trends by the comparison of the number of homes sold in Pocono Real Estate month by month for the last 3 years.
October is not a “want to remember” month. First we get lots of rain, we’re now about 40” above normal, then we get a record early snowfall, 8 to 12”, and now the stats are way down for the month. Not only with the number of homes sold for the month but also for the prices of those homes sold for the month, dropping our average prices for the year to -6% below what the market did last year. BOOHOO!
The Absorption rate for the County has dropped to 20 months. This is due to the number of homes that have expired (not sold) in the market place.
This is a “double-edged sword” so to speak. It is good for you, the home seller, in that you have less competition during this time of year therefore better chances of getting more showings of your home, better chances of receiving an offer. However, since our prices do continue to drop, you will have to flow with the market or you will become stagnant. Like I said, a double-edged sword.
Stay tuned for completion of the year.
As always stats were obtained from flexmls and are deemed reliable and reflect data for sold residential homes within Monroe County.
Thank You! Bobbie
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Bobbie Smith, CRS
(Certified Residenial Specialist-CRS)
570-242-1891 Cell Best (Call or Text)
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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*