Pocono Summit PA Real Estate Market Report - May 2014

By
Services for Real Estate Pros RS274017

Pocono Summit PA Real Estate Market Report - May 2014

 

Pocono summit pa real estate market report - may 2014 



THE AVERAGE SOLD PRICE OF HOMES WAS:

 

The Average Sold Price of homes sold in Pocono Summit PA for May was $75k versus $182k for May of 2013.

 

NUMBER OF HOMES SOLD:

 

The Number of Homes Sold in Pocono Summit PA for May was 2 versus 1 for May 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 $85K compared to $115k for 2013. We have to remember that foreclosures accounted for 35% of the sold homes in Monroe County for May. 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 22 compared to 16 for 2013.  A 37% increase. Very nice.

 

This month makes 19 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 consider in the Pocono Summit PA Real Estate Market Report for May 2014 in the Poconos are:

 

The Average Days on the Market was 172.

 

The Sale to List Price Ratio was 80%. (too low)

 

The Absorption Rate is 14 months

 

The Number of Pending homes is at 4, double for April 2013

 

The Number of Active Listings is 53, up 12% from last May



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 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

 

Pocono Summit PA Real Estate Market Report - May 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

RE/MAX OF THE POCONOS

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*

Comments (11)

Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Bobbie....I love your market report.... buyers and sellers in the Poconos of Penn should appreciate this well researched information....

Jun 17, 2014 09:08 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for the update for the Pocono Summit real estate market, Bobbie.  Mostly positive news.  Prices should start increasing very shortly with this kind of activity.

Jun 17, 2014 09:34 PM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Good morning Bobbie, expertly done Pocono Summit PA market report. In my are sales are down 30% from last year. I am work twice as hard to make it happen with low inventory. I bet 2014 is going to be a great year for all when it is all said and done.

Jun 17, 2014 10:33 PM
David Saks
Memphis, TN
Broker / Industry Analyst

Terrific info. Have a great day ahead and a successful week.

Jun 17, 2014 10:44 PM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Bobbie: You have covered all the bases with this excellent analysis of the Pocono Summit real estate market. Nicely done!

Jun 18, 2014 07:21 AM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Hi Barbara, Thank you. I sure hope consumers can use the info.

Jun 18, 2014 09:46 PM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Hi Gabe,  A little compact compared to your great reports but hopefully it offers enough info. Thanks.

Jun 18, 2014 09:47 PM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Noah, I am sorry to hear that. April and May sales were slower than many previous months here. Hope your area picks up soon.,

Jun 18, 2014 09:48 PM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Hi David, Appreciate you stoppin by. Thanks.

Jun 18, 2014 09:48 PM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Hi Anita, It is always a pleasure to have you comment. Thank you. I do appreciate it.

Jun 18, 2014 09:49 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Bobbie, I am glad that the trend is continuing upward and that you are closing the gap. I love your creative graphs and think they are very eye-catching.

Jun 18, 2014 10:18 PM