The numbers are in! According to the Pocono Mountains MLS, the real estate market looks like it's still trying to turn itself around. In 2010, the average residential sales price in Monroe County dropped from $162,880 in 2009 to $153,722. However, this 5.62% drop in average sales price hit in the first quarter and stayed fairly steady throughout the rest of the year. Additionally, we had just 103 less transactions than in 2009. Translation: we still have people buying and selling real estate in the Poconos! But with 2,186 active residential homes currently on the market in Monroe County, you have to be priced right to sell your home. And for the homes that ARE priced right, they certainly move faster than the others.
Also, the average mortgage rate for a 30-year fixed is still under 5%, so people are still taking advantage of these lower rates and home prices. However, the trend for the mortgage rates is increasing, so don't wait too long if you want to take advantage of them!
If you have any questions about real estate in the Poconos, please don't hesitate to contact me!
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