Real Estate Market Trends in Pocono Summit PA - June 2014
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!