Q2-2014 Activity Snapshot One-Year Change in One-Year Change in Closed Sales Homes for Sale 2 Housing seemed to have a slow start to the spring selling season, but appearances deceive. Dig into that spring soil and you begin to unearth differences in individual areas and market segments. Inventory is slowly rising in some areas. Activity is picking up in the upper price tiers. Rents continue to climb in most metros. And interest rates are generally lower than a year ago, to the surprise of some and the delight of others. New Listings increased 24 5 percent to 1 705 Pending Sales were up 34 3 Median Sales Price Residential real estate activity in Monroe County, comprised of single- family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures. Activity Overview Quarterly Indicators + 13.2% + 1.0% - 13.7% One-Year Change in 2 3 4 5 6 7 8 9 10 11 12 Click on desired metric to jump to that page. Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received New Listings increased 24.5 percent to 1,705. Pending Sales were up 34.3 percent to 724. Inventory levels grew 1.0 percent to 2,416 units. Prices weakened somewhat. The Median Sales Price decreased 13.7 percent to $110,000. Days on Market was down 18.2 percent to 117 days. Absorption rates improved as Months Supply of Inventory was down 19.0 percent to 12.4 months. Housing is one part of a broader ecosystem that thrives on a strong economy that churns out good jobs. First-quarter employment figures were adequate but not thrilling, but second-quarter numbers figure to be more positive. Access to mortgage capital remains an ongoing concern. As cash and investor deals fade, first-time buyers typically step to the forefront, but tight credit can and has been a real hurdle. Activity Overview New Listings Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory
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Q2-2014 Activity Snapshot
One-Year Change in One-Year Change inClosed Sales Homes for Sale
2
Housing seemed to have a slow start to the spring selling season, but appearances deceive. Dig into that spring soil and you begin to unearth differences in individual areas and market segments. Inventory is slowly rising in some areas. Activity is picking up in the upper price tiers. Rents continue to climb in most metros. And interest rates are generally lower than a year ago, to the surprise of some and the delight of others.
New Listings increased 24 5 percent to 1 705 Pending Sales were up 34 3
Median Sales Price
Residential real estate activity in Monroe County, comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures.
Activity Overview
Quarterly Indicators
+ 13.2% + 1.0% - 13.7%One-Year Change in
23456789
101112
Click on desired metric to jump to that page.
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing.
Pending SalesClosed SalesDays on Market Until SaleMedian Sales PriceAverage Sales PricePercent of Original List Price Received
New Listings increased 24.5 percent to 1,705. Pending Sales were up 34.3 percent to 724. Inventory levels grew 1.0 percent to 2,416 units.
Prices weakened somewhat. The Median Sales Price decreased 13.7 percent to $110,000. Days on Market was down 18.2 percent to 117 days. Absorption rates improved as Months Supply of Inventory was down 19.0 percent to 12.4 months.
Housing is one part of a broader ecosystem that thrives on a strong economy that churns out good jobs. First-quarter employment figures were adequate but not thrilling, but second-quarter numbers figure to be more positive. Access to mortgage capital remains an ongoing concern. As cash and investor deals fade, first-time buyers typically step to the forefront, but tight credit can and has been a real hurdle.
Activity OverviewNew Listings
Housing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory
Market Overview
Key Metrics Historical Sparkbars Q2-2013 Q2-2014 Percent Change YTD 2013 YTD 2014 Percent Change
+ 13.4%
Days on Market 143 117 - 18.2% 137 116 - 15.3%
Closed Sales 516 584 + 13.2% 913 1,035
2,680 + 14.8%
Pending Sales 539 724 + 34.3% 1,016 1,257 + 23.7%
2,335
Key metrics by reported quarter and for year-to-date (YTD) starting from the first of the year.
New Listings 1,370 1,705 + 24.5%
Q2-2007 Q2-2010 Q2-2013
Q2-2007 Q2-2010 Q2-2013
Q2-2007 Q2-2010 Q2-2013
Q2-2007 Q2-2010 Q2-2013
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 2
--
Months Supply 15.3 12.4 - 19.0% -- -- --
Homes for Sale 2,391 2,416 + 1.0% -- --
+ 0.6%
Affordability Index 236 269 + 14.0% 250 269 + 7.6%
Pct. of Orig. Price Received 89.6% 89.3% - 0.3% 88.3% 88.8%
- 8.3%
Average Sales Price $142,180 $123,609 - 13.1% $132,591 $127,512 - 3.8%
Median Sales Price $127,500 $110,000 - 13.7% $120,000 $110,000
Q2-2007 Q2-2010 Q2-2013
Q2-2007 Q2-2010 Q2-2013
Q2-2007 Q2-2010 Q2-2013
Q2-2007 Q2-2010 Q2-2013
Q2-2007 Q2-2010 Q2-2013
Q2-2007 Q2-2010 Q2-2013
New Listings
Percent Change
Q3-2011 1,124 -7.6%
Q4-2011 852 0.0%
Q1-2012 1,189 +0.8%
Q2-2012 1,284 -12.9%
Q3-2012 1,066 -5.2%
Q4-2012 779 -8.6%
Q1-2013 965 -18.8%
Q2-2013 1,370 +6.7%
Q3-2013 1,222 +14.6%
Q4-2013 921 +18.2%
Q1-2014 975 +1.0%
Q2-2014 1,705 +24.5%
A count of the properties that have been newly listed on the market in a given quarter.
New Listings
1,4741,284
1,370
1,705
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
2,6542,473
2,335
2,680
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Year to Date
+ 14.8%+ 6.7% + 24.5% - 5.6%- 12.9% - 6.8%- 5.2%- 3.0%
Historical New Listings by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 3
Q2-2011 Q2-2012 Q2-2013 Q2-2014
750
1,000
1,250
1,500
1,750
2,000
2,250
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Pending Sales
Percent Change
Q3-2011 427 +8.9%
Q4-2011 351 +3.8%
Q1-2012 375 +15.0%
Q2-2012 465 +12.3%
Q3-2012 464 +8.7%
Q4-2012 394 +12.3%
Q1-2013 477 +27.2%
Q2-2013 539 +15.9%
Q3-2013 575 +23.9%
Q4-2013 509 +29.2%
Q1-2014 533 +11.7%
Q2-2014 724 +34.3%
Pending Sales
A count of the properties on which offers have been accepted in a given quarter.
414465
539
724
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
740840
1,016
1,257
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Year to Date
+ 23.7%+ 15.9% + 34.3% + 21.0%+ 12.3% + 13.5%- 7.2%- 3.7%
Historical Pending Sales by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Q2-2011 Q2-2012 Q2-2013 Q2-2014
200
400
600
800
1,000
1,200
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Closed Sales
Percent Change
Q3-2011 440 +19.2%
Q4-2011 372 +1.4%
Q1-2012 326 +9.4%
Q2-2012 404 +0.5%
Q3-2012 479 +8.9%
Q4-2012 465 +25.0%
Q1-2013 397 +21.8%
Q2-2013 516 +27.7%
Q3-2013 557 +16.3%
Q4-2013 563 +21.1%
Q1-2014 451 +13.6%
Q2-2014 584 +13.2%
Closed Sales
A count of the actual sales that closed in a given quarter.
402 404
516584
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
700 730
9131,035
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Year to Date
+ 13.4%+ 27.7% + 13.2% + 25.1%+ 0.5% + 4.3%- 8.5%- 14.8%
Historical Closed Sales by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
Q2-2011 Q2-2012 Q2-2013 Q2-2014
200
400
600
800
1,000
1,200
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Days on Market Until Sale
Percent Change
Q3-2011 127 -11.8%
Q4-2011 139 -4.1%
Q1-2012 134 -8.8%
Q2-2012 143 0.0%
Q3-2012 127 0.0%
Q4-2012 150 +7.9%
Q1-2013 131 -2.2%
Q2-2013 143 0.0%
Q3-2013 119 -6.3%
Q4-2013 130 -13.3%
Q1-2014 114 -13.0%
Q2-2014 117 -18.2%
Days on Market
Average number of days between when a property is listed and when an offer is accepted in a given quarter.
143 143 143
117
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
144 139 137
116
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Year to Date
- 15.3%0.0% - 18.2% - 1.4%0.0% - 3.5%+ 4.3%+ 2.9%
Historical Days on Market Until Sale by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Q2-2011 Q2-2012 Q2-2013 Q2-2014
60
80
100
120
140
160
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Median Sales Price
Percent Change
Q3-2011 $135,000 -6.9%
Q4-2011 $125,000 -9.4%
Q1-2012 $125,000 -4.6%
Q2-2012 $128,000 -5.9%
Q3-2012 $127,400 -5.6%
Q4-2012 $120,000 -4.0%
Q1-2013 $105,000 -16.0%
Q2-2013 $127,500 -0.4%
Q3-2013 $120,000 -5.8%
Q4-2013 $125,000 +4.2%
Q1-2014 $110,000 +4.8%
Q2-2014 $110,000 -13.7%
Median Sales Price
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given quarter.
$136,000$128,000 $127,500
$110,000
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
$135,000$125,350 $120,000
$110,000
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Year to Date
- 8.3%- 0.4% - 13.7% - 4.3%- 5.9% - 7.1%- 6.9%- 7.9%
Historical Median Sales Price by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Q2-2011 Q2-2012 Q2-2013 Q2-2014
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Average Sales Price
Percent Change
Q3-2011 $144,991 -7.4%
Q4-2011 $132,713 -12.0%
Q1-2012 $137,077 -6.3%
Q2-2012 $138,438 -8.0%
Q3-2012 $140,222 -3.3%
Q4-2012 $134,984 +1.7%
Q1-2013 $120,226 -12.3%
Q2-2013 $142,180 +2.7%
Q3-2013 $142,382 +1.5%
Q4-2013 $138,431 +2.6%
Q1-2014 $132,554 +10.3%
Q2-2014 $123,609 -13.1%
Average Sales Price
Average sales price for all closed sales, not accounting for seller concessions, in a given quarter.
$150,457$138,438 $142,180
$123,609
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
$148,672$137,833 $132,591 $127,512
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Year to Date
- 3.8%+ 2.7% - 13.1% - 3.8%- 8.0% - 7.3%- 4.4%- 3.5%
Historical Average Sales Price by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Q2-2011 Q2-2012 Q2-2013 Q2-2014
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Percent of Original List Price Received
Percent Change
Q3-2011 87.0% +1.9%
Q4-2011 85.4% -0.9%
Q1-2012 85.0% -0.9%
Q2-2012 86.2% -1.7%
Q3-2012 87.5% +0.6%
Q4-2012 86.7% +1.5%
Q1-2013 86.6% +1.9%
Q2-2013 89.6% +3.9%
Q3-2013 89.1% +1.8%
Q4-2013 87.8% +1.3%
Q1-2014 88.2% +1.8%
Q2-2014 89.3% -0.3%
Pct. of Orig. Price Received
Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties soldin a given quarter, not accounting for seller concessions.
87.7% 86.2% 89.6% 89.3%
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
86.8% 85.7% 88.3% 88.8%
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Year to Date
+ 0.6%+ 3.9% - 0.3% + 3.0%- 1.7% - 1.3%- 1.8%- 1.3%
Historical Percent of Original List Price Received by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Q2-2011 Q2-2012 Q2-2013 Q2-2014
84.0%
86.0%
88.0%
90.0%
92.0%
94.0%
96.0%
98.0%
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Housing Affordability Index
Percent Change
Q3-2011 231 +14.4%
Q4-2011 250 +17.9%
Q1-2012 254 +14.4%
Q2-2012 257 +16.3%
Q3-2012 265 +14.7%
Q4-2012 283 +13.2%
Q1-2013 308 +21.3%
Q2-2013 236 -8.2%
Q3-2013 253 -4.5%
Q4-2013 245 -13.4%
Q1-2014 263 -14.6%
Q2-2014 269 +14.0%
Affordability Index
This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
221
257236
269
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
223
262 250269
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Year to Date
+ 7.6%- 8.2% + 14.0% - 4.6%+ 16.3% + 17.5%+ 13.8%+ 15.1%
Historical Housing Affordability Index by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 10
Q2-2011 Q2-2012 Q2-2013 Q2-2014
100
150
200
250
300
350
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Inventory of Homes for Sale
Percent Change
Q3-2011 2,778 -3.2%
Q4-2011 2,276 -2.1%
Q1-2012 2,468 +2.2%
Q2-2012 2,714 -3.2%
Q3-2012 2,630 -5.3%
Q4-2012 2,139 -6.0%
Q1-2013 2,072 -16.0%
Q2-2013 2,391 -11.9%
Q3-2013 2,472 -6.0%
Q4-2013 2,047 -4.3%
Q1-2014 1,974 -4.7%
Q2-2014 2,416 +1.0%
Homes for Sale
The number of properties available for sale in active status at the end of a given quarter.
2,804 2,714
2,391 2,416
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
- 11.9% + 1.0%- 3.2%- 2.9%
Historical Inventory of Homes for Sale by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 11
Q2-2011 Q2-2012 Q2-2013 Q2-2014
1,000
1,500
2,000
2,500
3,000
3,500
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
Months Supply of Inventory
Percent Change
Q3-2011 22.2 +1.4%
Q4-2011 18.0 -1.6%
Q1-2012 18.9 -3.1%
Q2-2012 20.1 -12.2%
Q3-2012 19.1 -14.0%
Q4-2012 15.1 -16.1%
Q1-2013 13.8 -27.0%
Q2-2013 15.3 -23.9%
Q3-2013 14.9 -22.0%
Q4-2013 11.7 -22.5%
Q1-2014 11.0 -20.3%
Q2-2014 12.4 -19.0%
Months Supply
The inventory of homes for sale at the end of a given quarter, divided by the average monthly pending sales from the last 12 months.
22.9
20.1
15.3
12.4
Q2-2011 Q2-2012 Q2-2013 Q2-2014
Second Quarter
- 23.9% - 19.0%- 12.2%+ 8.0%
Historical Months Supply of Inventory by Quarter
Current as of July 9, 2014. All data from the Pocono Mountains Association Multi List. Provided by the Pennsylvania Association of Realtors®. Powered by 10K Research and Marketing. | Click for Cover Page | 12
Q2-2011 Q2-2012 Q2-2013 Q2-2014
5
10
15
20
25
Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014
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