Scranton, PA gets the nod from CNN's Money Magazine...

By
Real Estate Broker/Owner with ADT Real Estate

Yes, that's right!!! Scranton, PA is rated by CNN's Money Magazine as 7th in the list of "Fastest Growing Real Estate Markets". I'd say that's pretty impressive. It's also something I've been saying for a long time now. 

Our market is solid!! I wouldn't call it " recession-proof". We have our issues, but we haven't experienced the stellar growth of many markets who are now suffering the woes of double digit losses in home values and foreclosure rates that are through the roof. No, we've taken the slow and steady route and it shows in our current statistics, taken from the following article... http://finance.yahoo.com/real-estate/article/105048/10-Fastest-Growing-Real-Estate-Markets

 

7. Scranton, P.A.

12-month forecast: 2.2%
Median home price: $128,000
One year price change: 7.2%
Five year price change: 41.1%
Change in foreclosure rate: 8%

 

As you can see, we're expecting very big things over the next few years. For years there has been talk of extending the rail system to make a connection from NYC straight to the Scranton/Wilkes-Barre market. This will mean a huge boom for the area in housing prices for both home sales and rentals. That in turn will mean a lot for the savvy buyer who get's in on the action now, while the prices are still within reason.

If you are interested in learning more about the Wilkes-Barre/Scranton market, contact me today or check out my website at www.wilkesbarrehomesales.com.

 

My name is Andrew Trevino. I am a Realtor, working in the Wilkes-Barre, PA area, and I'm affiliated with TradeMark Realtors Group. Thanks for investing your time in reading my blog. If you're interested in contacting me, please visit my website at http://www.wilkesbarrehomesales.com/

                                                   TradeMark Realtors Group

Comments (4)

Lynn911.com ~ Dallas Real Estate Agent Top Team
Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com - Dallas, TX

BRAVO... for the new release !.... happy selling !

 

Lynn 911 Dallas Top Real Estate Team

Visit our website:  Dallas homes for sale, Over 4,000 Dallas home foreclosures, Dallas homes for rent,

Website:  http://www.lynn911.com

Email:  911@lynn911.com

May 25, 2008 04:05 AM
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Andrew - Not surprising, more good news for another solid market here in Pennsylvania.  The slow & steady route seems to be golden, does it not?

May 25, 2008 06:43 AM
Andrew Trevino
ADT Real Estate - Wilkes Barre, PA
Wilkes-Barre Homes For Sale

Lynn,

Thanks for the comment. Let me know if your links in your comment get any action from my post. LOL

Jason,

Nothing wrong with slow and steady at all. Thanks for stopping by.

May 25, 2008 07:11 AM
Gary Miljour
American Financial Network, Inc. NMLS#207208 - Southern Pines, NC
Mortgage Originator NMLS Licensed in AZ and NC

Andrew,

Still enjoy reading your blog from time to time, but is Scranton doing well because of the popularity of "The Office".  I love that show and have wanted to visit Scranton ever since.  Maybe I will run into Michael Scott. 

May 29, 2008 06:26 PM