Real Estate Market Report in East Stroudsburg PA - June 2014
AVERAGE SOLD PRICE:$125k versus $144k for June 2014. That is a 13% drop. Not good news. Many areas of the County saw this for June. An unexpected set back on our Road to Recovery.
Foreclosures accounted for 40% of the Sold homes in East Stroudsburg, a high foreclosure rate, which would account for the drastic price drop for June in the East Stroudsburg PA Real Estate Market.
NUMBER OF HOMES SOLD:59 versus 59 for June 2013. At least this number stayed the same and did not drop although we had anticipated a rise in the number of homes sold from last year.
YEAR TO DATE STATISTICS THROUGH JUNE 2014:
The Year To Date number of homes sold in the East Stroudsburg PA is 283 homes, up 15.5% from 245 for 2013.
The Year To Date average sold price of homes sold in East Stroudsburg PAis $123K for 2014, down 4% from $128k for year to date 2013.
Other Important Statistics to consider in the Real Estate Market Report in East Stroudsburg PA for June 2014 are:
The Average Days on the Market rose to 246 days.
The Sale to List Price Ratio was around 98%.
The Absorption Rate dropped to 11 months versus 13 months for June 2013. This is indicative of a Buyer’s Market. A balanced market would be 6 months.
The Number of Pending homes is currently at 74, UP from 34 for June 2013.
The Number of Active Listings dropped to 471 versus 482 for June 2013.
In Summary, all these Statistics show that we are still in a Buyer’s Market in East Stroudsburg PA. For 20 months in a row the Number of Homes being sold in the Poconos on a monthly basis has been on the rise and exceeded the previous years numbers. This is the BEST market we have seen in the Poconos for years! Take advantage of it and call your East Stroudsburg PA Real Estate Agent, Bobbie Smith and get your home in the Poconos Sold NOW.
Real Estate Market Report in East Stroudsburg PA - June 2014.