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.
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:
The Number of Active listings rose 3.7% to 2415 homes.
The Absorption rate dropped to 10 months.
The Sale to List Price ratio was approximately 93.5% where we would like to see at least 97%
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.