Record hot real estate market pushes Monroe County home prices to $265,000

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How the housing market could be shifting to favor buyers in 2022

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Just the FAQs, USA TODAY

The median sales price for a single-family home in Monroe County during March was $265,000. That’s an increase of 35.9% compared with March 2021, according to a USA TODAY Network localized analysis generated with data from Realtor.com.

On a year-over-year basis, prices have been rising for 21 consecutive months. March’s median sale price represents an all-time record in a database that covers 87 consecutive months. March prices are up from $236,000 the previous month.

The number of houses sold fell by 22.1% from a year earlier. A total of 300 houses were sold countywide during the month of March. During the same period a year earlier, 385 single-family homes were sold.

Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.

Monroe County condominiums and townhomes sold in March had a median sales price of $185,000. That figure represents a 1060% increase year over year. Some 29 were sold, down 78.5% from a year earlier.

More local real estate:Priced out? First-time home buyers are facing uphill battle in Poconos

How hot is Monroe County’s real estate market in Pennsylvania?

Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com.

In Monroe County the top 10% of the properties sold had prices of at least $430,000, up 19.5% from a year before.

In March, two properties sold for at least $1 million, consisting of two single-family homes.

The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Localized versions are generated for communities where the data quality and transaction volume meets Realtor.com and USA TODAY Network standards. The story was written by Sean Lahman.