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Real Estate Market Trends in the Poconos - January 2015

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Services for Real Estate Pros RS274017

Pocono Real Estate Market Report (Monroe County) - January 2015

 

Here’s a look at the Pocono Real Estate Market Report for January 2015.

It’s a great time for Investors with the foreclosure rate remaining high.

Done right, redone homes can provide income potential for years.

 

pocono real estate market report - january 2015

 

JANUARY AVERAGE SOLD PRICE OF HOMES IN MONROE COUNTY:

$119,669 versus $131,058 for Jan. 2014, down 8.60%

 

THE NUMBER OF HOMES SOLD FOR JANUARY IN MONROE COUNTY:

149 homes versus 145 for Jan. 2014, up 2.8%

 

YEAR TO DATE figures will be the same as the monthly above.

 

The Foreclosure rate of homes sold in January was 49.6% - Holy Cow!

 

Other important items to review when looking at the Pocono Real Estate Market Report are:

 

  1. The Number of Active listings rose 3.7% to 2415 homes.

 

  1. The Absorption rate dropped to 10 months.

 

  1. The Sale to List Price ratio was approximately 93.5% where we would like to see at least 97%

 

  1. The Average Days on the Market of the homes that sold dropped to 143 days.

 

5. The Number of Pending homes is 229, UP 34.7% from 170 for January 2014.

 

The Absorption rate shows that we continue to be in a very strong Buyers Market.

A balanced market would have an Absorption rate of around 6 months.

 

To sell your home in the Poconos in such a strong Buyers Market you must be priced to compete, which means the same as your competition or better yet, lower than your competition.

 

Visit homesinthepoconosforsale.com to search for a home that is just right for you.

 

Pocono Real Estate Market Report - December 2014

Pocono Real Estate Market Report - November 2014

Pocono Real Estate Market Report - October 2014

Pocono Real Estate Market Report - September 2014

 

Pocono Real Estate Market Report - August 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 (14)
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Bobbie Smith,  Always like to see what is happening with your market.  Hope the snow goes away for you soon.

Feb 08, 2015 12:14 AM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Well done Real Estate Market Trends in the Poconos report Bobby. You have it easy to read and understand. A great tool for your clients.

Feb 08, 2015 12:18 AM
David Saks
Memphis, TN
Broker / Industry Analyst

Great information and great post, too. Have a terrific afternoon.

Feb 08, 2015 03:54 AM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Bobbie: It won't be long before the Poconos real estate market is balanced...sure would be nice to see the distressed homes disappear in this market this year.

Feb 08, 2015 04:16 AM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Hi Will, Things could be better back in your old stomping ground. Thanks.

Hi Noah, Hope you are right. The info needs to be easy for the consumer to comprehend. Thanks.

Thanks David!

Hi Anita, Boy I sure hope so too. The foreclosure rate of 50% of our sales is totally unacceptable.  But with so many homeowners still underwater in our area, I'm afraid it may be years yet.

Feb 08, 2015 08:42 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

The graph tells the story so well Bobbie. Hopefully the prices will begin to rise this year and the marekt will solidify.

Feb 08, 2015 10:13 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Bobbie- every area is different, isn't it.   The numbers look like the area will find some kind of balance, hope it's soon. 

Feb 09, 2015 08:45 AM
Anonymous
MaryAnne

Do you believe that there is a huge effect if house is on the market over 340 days?

Feb 09, 2015 05:50 PM
#8
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Bobbie, looks like very positive movement in the Pocono Real Estate Market.  Good news.

Feb 09, 2015 08:05 PM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Thanks Debbie. We need something to solidify, that is for sure.

Hi Kathy, A Balanced market might help to get our prices to rise, even just a bit would be nice. Thanks.

MaryAnne, If your home has been on the market for over a year the Buyer can get this information from their Buyers Agent and they will ask, what is wrong with the home that it has been on the market this long?  I have not seen your home however in our market it sure sounds like the home may need a price adjustment and the marketing of the home may need a 2nd look.

Thanks Gabe. We're not there yet but we are getting closer. Thanks.

Feb 09, 2015 08:23 PM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Well Bobbie, it is so interesting to see what other markets are doing or struggling with in home sales...the foreclosures still are testing your market.  But it is an amazing time to get a great house buy in Monroe County and buyers should be calling you.

Feb 10, 2015 08:19 PM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Hi Ginny, It is a struggle for the average home owner.  They really need to be priced right to sell with all the foreclosure competition. It is sad. Thanks for stopping by.

Feb 12, 2015 08:40 PM
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

Bobbie, I really liked the graph.  It makes understanding markets so much easier with a graphic like that! 

Feb 16, 2015 02:28 AM
Bobbie Smith
Stroudsburg, PA
570-242-1891

Thanks Ron. Hopefully most consumers agree with you. I know it makes it easier for me to see what is happening when I see it in graph form. 

Feb 16, 2015 08:40 PM
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