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
Comments(11)