Real Estate Market Trends in the Poconos - January 2015

Pocono Real Estate Market Report (Monroe County) - January 2015

 

Here’s a look at the Pocono Real Estate Market Report for January 2015.

It’s a great time for Investors with the foreclosure rate remaining high.

Done right, redone homes can provide income potential for years.

 

pocono real estate market report - january 2015

 

JANUARY AVERAGE SOLD PRICE OF HOMES IN MONROE COUNTY:

$119,669 versus $131,058 for Jan. 2014, down 8.60%

 

THE NUMBER OF HOMES SOLD FOR JANUARY IN MONROE COUNTY:

149 homes versus 145 for Jan. 2014, up 2.8%

 

YEAR TO DATE figures will be the same as the monthly above.

 

The Foreclosure rate of homes sold in January was 49.6% - Holy Cow!

 

Other important items to review when looking at the Pocono Real Estate Market Report are:

 

  1. The Number of Active listings rose 3.7% to 2415 homes.

 

  1. The Absorption rate dropped to 10 months.

 

  1. The Sale to List Price ratio was approximately 93.5% where we would like to see at least 97%

 

  1. The Average Days on the Market of the homes that sold dropped to 143 days.

 

5. The Number of Pending homes is 229, UP 34.7% from 170 for January 2014.

 

The Absorption rate shows that we continue to be in a very strong Buyers Market.

A balanced market would have an Absorption rate of around 6 months.

 

To sell your home in the Poconos in such a strong Buyers Market you must be priced to compete, which means the same as your competition or better yet, lower than your competition.

 

Visit homesinthepoconosforsale.com to search for a home that is just right for you.

 

Pocono Real Estate Market Report - December 2014

Pocono Real Estate Market Report - November 2014

Pocono Real Estate Market Report - October 2014

Pocono Real Estate Market Report - September 2014

 

Pocono Real Estate Market Report - August 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

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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 14 commentsBobbie Smith • February 08 2015 06:04AM

Comments

Hello Bobbie Smith,  Always like to see what is happening with your market.  Hope the snow goes away for you soon.

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) almost 3 years ago

Well done Real Estate Market Trends in the Poconos report Bobby. You have it easy to read and understand. A great tool for your clients.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) almost 3 years ago

Great information and great post, too. Have a terrific afternoon.

Posted by David Saks almost 3 years ago

Bobbie: It won't be long before the Poconos real estate market is balanced...sure would be nice to see the distressed homes disappear in this market this year.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) almost 3 years ago

Hi Will, Things could be better back in your old stomping ground. Thanks.

Hi Noah, Hope you are right. The info needs to be easy for the consumer to comprehend. Thanks.

Thanks David!

Hi Anita, Boy I sure hope so too. The foreclosure rate of 50% of our sales is totally unacceptable.  But with so many homeowners still underwater in our area, I'm afraid it may be years yet.

Posted by Bobbie Smith, 570-242-1891 almost 3 years ago

The graph tells the story so well Bobbie. Hopefully the prices will begin to rise this year and the marekt will solidify.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) almost 3 years ago

Bobbie- every area is different, isn't it.   The numbers look like the area will find some kind of balance, hope it's soon. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) almost 3 years ago

Do you believe that there is a huge effect if house is on the market over 340 days?

Posted by MaryAnne almost 3 years ago

Bobbie, looks like very positive movement in the Pocono Real Estate Market.  Good news.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 3 years ago

Thanks Debbie. We need something to solidify, that is for sure.

Hi Kathy, A Balanced market might help to get our prices to rise, even just a bit would be nice. Thanks.

MaryAnne, If your home has been on the market for over a year the Buyer can get this information from their Buyers Agent and they will ask, what is wrong with the home that it has been on the market this long?  I have not seen your home however in our market it sure sounds like the home may need a price adjustment and the marketing of the home may need a 2nd look.

Thanks Gabe. We're not there yet but we are getting closer. Thanks.

Posted by Bobbie Smith, 570-242-1891 almost 3 years ago

Well Bobbie, it is so interesting to see what other markets are doing or struggling with in home sales...the foreclosures still are testing your market.  But it is an amazing time to get a great house buy in Monroe County and buyers should be calling you.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) almost 3 years ago

Hi Ginny, It is a struggle for the average home owner.  They really need to be priced right to sell with all the foreclosure competition. It is sad. Thanks for stopping by.

Posted by Bobbie Smith, 570-242-1891 almost 3 years ago

Bobbie, I really liked the graph.  It makes understanding markets so much easier with a graphic like that! 

Posted by Ron Marshall, Birdhouse Builder Extraordinaire (Marshall Enterprises) almost 3 years ago

Thanks Ron. Hopefully most consumers agree with you. I know it makes it easier for me to see what is happening when I see it in graph form. 

Posted by Bobbie Smith, 570-242-1891 almost 3 years ago

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