Homes Sold in the Poconos - May Real Estate Market Trends 2014

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Services for Real Estate Pros RS274017

Homes Sold in the Poconos - May Real Estate Market Trends 2014 (Monroe County PA)

 poconosrealestatemarketrendsformay2014

 

 HOMES SOLD IN THE POCONOS FOR MAY 2014 :

 

The Number of Homes sold in the Poconos during May was 190, UP 7% from 177 sold for May 2013.  This makes 19 months in a row that we have seen the number of homes being sold per month RISE! We are on a Roll, a nicely positive roll.

 

Of the 190 homes sold in the Poconos for May, 67 of them were foreclosures, approximately 35% of the total sales for the month.  This is NOT a percentage we like to see.  We really want the foreclosure rate to be under 20% and stay there.

 

AVERAGE SOLD PRICE IN THE POCONOS FOR MAY 2014:

 

The Average Sold Price of homes sold in the Poconos during May was $124k, DOWN 17% from $150k from May of 2013.  Given the percentage of foreclosures that were sold it is not surprising that the average sold price dropped this drastically. The only consolation is that it makes our year to date average sale price DOWN by 3%, which is a lot better than our monthly stat. Hopefully the amount of foreclosures will soon decrease and these numbers will begin to rise again.

 

YEAR TO DATE REAL ESTATE STATISTICS IN THE POCONOS:

 

The Number of Homes Sold for 2014 in the Poconos is 815 UP12%  when compared to last year.  This has now been 19 months of positive growth for the number of homes being sold. A Definite sign the real estate market in the Poconos is recovering, slow but sure.

 

The Average Sold Price for 2014 in the Poconos is $127k, DOWN 3% when compared to last year.  A minor setback, we hope, when compared to previous months this year.

 

More Important Statistics to review in the Real Estate Market Trends in the Poconos for March 2014 are:

 

  • The Absorption Rate - has dropped to 13 months from 15 months last year, however it has risen when compared to last month which had an AR rate of 12 months.  It is the high listing time of year for Sellers and now the competition has just gotten stiffer.

 

  • The Average Days on the Market(CDOM) -  167 days for May

 

  • Number of Active Listings - dropped to 2236 versus 2238for last year

 

  • Number of Pending Listings - rose to 285 when compared to 207 for last year

 

  • The Sale to List price ratio - was around 94%

 

Real Estate Market Trends in the Poconos for April 2014

Real Estate Market Trends in the Poconos for March 2014.

Real Estate Market Report in the Poconos for February 2014

Real Estate Market Report in the Poconos for January 2014.

Real Estate Market Report in the Poconos for December 2013.

10 YEAR REAL ESTATE MARKET TRENDS IN THE POCONOS.

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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*

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Rainmaker
4,799,006
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 excellent update for the May real estate market in the Poconos.  There are a lot of similarities in your trends to ours.

Jun 05, 2014 09:53 PM #1
Rainmaker
4,067,807
Dorie Dillard CRS GRI ABR
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Bobbie,

Excellent report even though you couldn't upload photos..my Foodie Fridays post has a 1 at the beginning of the title because it wouldn't post without it!! Your market continues to improve..more sales and higher list to sell ratio!

Jun 05, 2014 10:40 PM #2
Rainmaker
1,571,322
David Saks
(retired) - Memphis, TN

Thanks for sharing the great info. Have a terrific day ahead.

Jun 06, 2014 12:56 AM #3
Rainmaker
2,376,138
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

More good news for the Poconos real estate market!

Bobbie: Try posting your photos without any spaces (i.e. poconosrealestate.jpg)

Jun 06, 2014 10:52 AM #4
Rainmaker
660,043
Bobbie Smith
Stroudsburg, PA
570-242-1891

Hi Gabe, I've noticed that too.

Jun 06, 2014 09:34 PM #5
Rainmaker
660,043
Bobbie Smith
Stroudsburg, PA
570-242-1891

Dorie, There are positives on our road to recovery, that's for sure.

We need a lot less foreclosures but I do not see that happening soon.

Jun 06, 2014 09:35 PM #6
Rainmaker
660,043
Bobbie Smith
Stroudsburg, PA
570-242-1891

Thank you David

Jun 06, 2014 09:35 PM #7
Rainmaker
660,043
Bobbie Smith
Stroudsburg, PA
570-242-1891

Thanks Anita. That works.

Jun 06, 2014 09:36 PM #8
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