Friday, January 8, 2010

Pocono Real Estate Outlook-local Edition


Presented by: Better Homes and Gardens Real Estate Wilkins & Associates
Dominick J. Sacci, Vice President/General Manager
Prepared on: January 5, 2009

The overall Property Value Picture by year…
Average Selling Price in 2003 was $138,739 2003
Average Selling Price in 2004 was $157,802 2004
Average Selling Price in 2005 was $179,231 2005
Average Selling Price in 2006 was $193,972 2006
Average Selling Price in 2007 was $197,057 2007
Average Selling Price in 2008 was $179,794 2008
Average Selling Price in 2008 was $156,372 2009
The property value increase in years 2003, 2004, and 2005 was up approx. 14% each year.
2006 was up 8%. 2007 was up 1.6% 2008 was down -8.8% 2009 was down 13%

The average monthly sales prices for the last two years are as follows:
Sep-06 $200,004 Jul-07 $218,353 May-08 $176,828 Mar-09 $155,121
Oct-06 $199,697 Aug-07 $199,397 Jun-08 $197,288 Apr-09 $155,634
Nov-06 $187,951 Sep-07 $200,457 Jul-08 $189,134 May-09 $158,422
Dec-06 $192,015 Oct-07 $194,037 Aug-08 $174,646 Jun-09 $160,483
Jan-07 $191,442 Nov-07 $192,835 Sep-08 $184,173 Jul-09 $157,454
Feb-07 $188,559 Dec-07 $180,558 Oct-08 $174,482 Aug-09 $152,477
Mar-07 $202,357 Jan-08 $182,259 Nov-08 $161,679 Sep-09 $158,479
Apr-07 $190,742 Feb-08 $181,406 Dec-08 $169,470 Oct-09 $157,298
May-07 $203,667 Mar-08 $178,903 Jan-09 $162,127 Nov-09 $154,624
Jun-07 $202,287 Apr-08 $187,264 Feb-09 $142,571 Dec-09 $161,775

DAYS ON THE MARKET
We want to stress here that PMAR data is not historical when it applies to (DOM), what that means is while the average DOM's are below, this
does not take into account when a home is listed with broker A for 6 months and does not sell, then lists with Broker B and sells in 90 days. The real
DOM would be 9 months. In theory you may be able to add 6 months to the following numbers, starting with 2006.

2003 The average time on the market was 95 days.
2004 The average time on the market was 87 days.
2005 The average time on the market was 80 days.
2006 The average time on the market was 84 days.
2007 The average time on the market was 96 days.
2008 The average time on the market was 110 days.
2009 The average time on the market is 113 days.
This report is run on a monthly basis and will be upated accordingly. The information contained in this report is taken from our MLS system and in house computer programs

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