poconos for sale
The Pocono Real Estate Market Statistics for Sold homes in the 3rd quarter is reflected in the chart above. Thenumber of homes sold in the 3rd quarter for 2011 was 17% higher than it was for the 3rd quarter of 2010. The average sold price of these same homes was down 6% from the same time period of 2010. Again, we continue to see our prices drop. NOT WHAT WE WANT TO SEE!
Of the 431 homes sold in the 3rd quarter of 2011, 106 of them were foreclosures, 25% of the total sales for the quarter were foreclosures.
HOWEVER, if we take a look at the POCONO REAL ESTATE MARKET STATISTICS for the year 2011 we see that we are holding steady at a 4% price drop for the Average Sold Price in homes sold for the year. Holding steady at 4% is good and then add to that the fact that the number of homes sold for 2011 when compared to 2010 is the same – we are at break even for the # of homes sold. I like holding steady and breaking even.
The current absorption rate for our market is 21 months. Meaning, that it would take 21 months to sell all the homes that are on the market for sale at the current rate of sales.
*these stats are for residential homes sales within Monroe County and were obtained from flexmls on 10-8-11*
Commonwealth Real Estate Your Way, LLC