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Real Estate Market Trends in Pocono Summit PA - June 2014

By Bobbie Smith

Services for Real Estate Pros RS274017

July 19, 2014 11:05 PM

real estate market trends in pocono summit pa

AVERAGE SOLD PRICE:

The Average Sold Price of homes sold in Pocono Summit PA for June was $61k.

NUMBER OF HOMES SOLD:

The Number of Homes Sold in Pocono Summit PA for June was 4 versus 1 for June 2013. Good to see the number of homes sold on a monthly basis continues to increase.

YEAR TO DATE STATISTICS FOR 2014 in the Pocono Summit PA Real Estate Market Report:

The Year to Date Average Sold Price in Pocono Summit PA for 2014 is $81K compared to $110k for 2013. We have to remember that foreclosures accounted for 35% of the sold homes in Monroe County for June and 50% of the sales for Pocono Summit PA. With a rate that high it is hard to realize an increase in the average sold prices.

The Number of Homes Sold Year to Date in Pocono Summit PA for 2014 is 26 compared to 17 for 2013. A 53% increase. Very nice.

This month makes 20 months in a row that the number of homes sold in the Poconos (Monroe County) has exceeded last years numbers. With increased demand comes an increase in prices, eventually. The Absorption Rate needs to drop to around 6 months to be a balanced market and then at that point we have our best chances of seeing our prices begin to rise again, steadily.

More Important Statistics to review in Real Estate Market Trends in Pocono Summit PA - June 2014 are:

The Average Days on the Market was 81.

The Sale to List Price Ratio was 95%.

The Absorption Rate is 13 months

The Number of Pending homes is at 10, great increase when compared to 2 in June 2013

The Number of Active Listings is 51, down 9% from 2013

These trends in the Pocono Summit PA Real Estate Market Report tell us that it is a Great Time to sell your home in Pocono summit PA. When looking for a Pocono Summit Real Estate Agent to help you sell your home in the Poconos, give Bobbie a call. Together with RE/MAX of the Poconos we will help you reach your goal. SOLD!

Poconos Real Estate Market Report for June 2014

Pocono Summit PA Real Estate Market Report for May 2014

Pocono Summit PA Real Estate Market Report for April 2014

Pocono Summit PA Real Estate Market Report for March 2014

Pocono Summit PA Real Estate Market Report for February 2014

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Anita Clark

Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA

Realtor - Homes for Sale in Warner Robins GA

Bobbie: Good news to see the number of sold homes continuing to rise in Pocono Summit. Hopefully, the number of foreclosures will continue to drop as consumers continue buying the available distressed properties in this market.

Jul 19, 2014 11:36 PM

Will Hamm

Hamm Homes - Aurora, CO

"Where There's a Will, There's a Way!"

Hello Bobbie, I agree with Anita, great to see the 4 to 1 vs last year. Hope all is going well

Jul 20, 2014 12:23 AM

John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

Pocono Summit PA has a very knowledgeable REALTOR that one would be wise to contact for real estate assistance. That would be Agent Bobbie Smith. Why wait?

Jul 20, 2014 12:56 AM

Ron and Alexandra Seigel

Napa Consultants - Carpinteria, CA

Luxury Real Estate Branding, Marketing & Strategy

Bobbie,

Great report, and I am glad you are seeing better numbers this year. A

Jul 20, 2014 02:17 AM

Kathy Streib

Cypress, TX

Home Stager/Redesign

Bobbie- not only a good report but you explained why the lower average sold price!

Jul 20, 2014 08:45 AM

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

Bobbie, thanks for the insight into the Pocono Summit real estate market. It's only a matter of time before the foreclosures start to go away and prices will then rise again.

Jul 20, 2014 09:09 PM

Bobbie Smith

Stroudsburg, PA

570-242-1891

Hi Anita, I hate to be the doom of gloom but I'm beginning to wonder if we will ever see a substantial decline in the number of foreclosures. It's been months and months now. Thanks

Jul 20, 2014 09:36 PM

Hi Will, At least sales are increasing, yes. Thanks

Jul 20, 2014 09:37 PM

Hi John and Debbie, Appreciate your support. Thanks so much

Hi Alexandra and Ron, Appreciate you stopping by. We need sales of more of our regular priced homes, and not the foreclosures, that is for sure. Thanks

Jul 20, 2014 09:38 PM

Hi Kathy, yes, hopefully it is understood that our high rate of foreclosures is killing us. Thanks

Jul 20, 2014 09:39 PM

Gabe, It's a darn shame that our foreclosures are so high. Thanks

Jul 20, 2014 09:40 PM

David Saks

Memphis, TN

Broker / Industry Analyst

Great post. Have a fine day and an excellent week ahead.

Jul 20, 2014 11:14 PM

Noah Seidenberg

Coldwell Banker - Evanston, IL

Chicagoland and Suburbs (800) 858-7917

Well done Pocono Summit PA Market Trends report Bobbie. You provide so much valuable information and expertise. Easy to understand and well done June report

Jul 21, 2014 01:11 PM

Real Estate Market Trends in Pocono Summit PA - June 2014

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