Lackawanna County is currently tilted toward sellers, with the market gauge at 21 out of 100. Homes are moving in a roughly balanced but slightly tight environment, with about 2.5 months of supply and 309 listings. A typical home value of $253,000 sits below the Pennsylvania average of $293,100, but values here have been rising faster than the state overall.
Prices have strengthened over the past year, with typical home values up 7.66 percent year over year and 16.32 percent month over month, even as the median list price sits at $245,000 and has dipped 1.96 percent from the prior month. Fewer options are part of the story, as inventory is down 10.69 percent month over month and 12.71 percent year over year, while new listings have fallen 36.41 percent and pending sales are 32.87 percent lower than a year ago.
Buyers are seeing some room to negotiate, with homes selling for about 96.6 percent of list price, 27.18 percent of listings cutting their price, and 23.02 percent of sales closing above list. At the same time, properties are taking longer to sell, with a median of 41 days on market, up more than 20 percent month over month and 32.26 percent over the past year. Agent Pronto can connect both buyers and sellers with an agent who understands these shifting conditions and can help them navigate their next move.
