Pocono Real Estate Market Report - September 2014

Pocono Real Estate Market Report - September 2014

 

When reviewing the Pocono Real Estate Market Report - September 2014, we take a look at the Average Prices (Average List Price, Pended Price and Sold Price).

 

Pocono Real Estate Market Report - September 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As the chart shows the distance between the Average List Price and the Average Sold Price is still much farther apart than what we would like to see.  The Average Sold Price for September went up 4% to $142,790 however the average sold price for the year fell to $131,185, down 3.46%.

 

The Number of Foreclosures sold in the Poconos continues to be too many and was 30.8% of the Sold homes in the Poconos for September.  This rate is what causes our Average Sold Price to continue to drop. We would like to see foreclosures be no more than 10% of our Market.

 

Pocono Real Estate Market Report - September 2014

 

The NUMBER OF HOMES SOLD in the Pocono Real Estate Market Report show 224 homes sold for September which is 27% higher than last year at this time. GREAT NEWS!

 

The AVERAGE SOLD PRICE of homes sold in the Pocono Real Estate Market Report shows $131,185 for the month, down 3.46% from last years price of $135,892.

 

The ABSORPTION RATE is currently at 13.75 months, down from last September which was 15.46 months and down from August as well, which is a good thing.  A Balanced Real Estate Market has an Absorption Rate of 6 months.

 

The AVERAGE DAYS ON THE MARKET dropped to 152 for September, versus 164 for last September and dropped to 128 days, year to date. Good News Too!

 

Other items to review in the Pocono Real Estate Market Trends - July 2014:

 

PENDING HOMES - 295,  UP from 189 for last September

ACTIVE LISTINGS - 2576, UP 5.5% from last year

SALE TO LIST PRICE RATIO - was around 94.7% (we would like 98% minimum)

 

Homes for sale in the Poconos

Pocono Real Estate Market Report - September 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    

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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*

Comment balloon 9 commentsBobbie Smith • October 04 2014 08:56AM

Comments

Bobbie: Your Pocono real estate market report gives local consumers an excellent snapshot of where the market is at and where it is headed. Nice job, as always!

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) almost 4 years ago

Hi Bobbie

I wish you well selling the area.  Your graphs look a lot like ours.

Posted by Tim Lorenz, 949 874-2247 (TIM LORENZ - Elite Home Sales Team) almost 4 years ago

Hello Bobbie,  First off, gald hubby is home from hospital.  Second great market report from you as always.

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) almost 4 years ago

Bobbie, overall it appears that the Pocono real estate market is improving.  Though, I'm sure you's like the pace to be  a little faster.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 4 years ago

Hi Anita,

Thanks. Our market is not as great as yours but we are making progress.

Posted by Bobbie Smith, 570-242-1891 almost 4 years ago

Hi Tim, Thanks.

Do you use Excel to put your graphs together as well.

Posted by Bobbie Smith, 570-242-1891 almost 4 years ago

Hi Will, Thanks and thanks.

We would love to see our market be like the Denver market. Maybe soon.

Posted by Bobbie Smith, 570-242-1891 almost 4 years ago

Hi Gabe, You're right. Our progress slowed in July and August which does not make any sense.

Posted by Bobbie Smith, 570-242-1891 almost 4 years ago

That is a large percentage of foreclosures. Hopefully soon that number will drop drastically.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) almost 4 years ago

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