Easton Area Real Estate Sales Show Signs Of Improvement

Home sales across the Valley may have fallen last month compared to May last year, but the Easton area seems to be more immune than most local communities to the economic woes that have stalled sales elsewhere.

“I've been really busy. I've had a better spring this year than last year,” local real estate broker Ellen Shaughnessy said, noting that she's sold three times as many properties this year than at the same time in 2010. “I don't know if it's a fluke, but I'll take it.”

The associate broker for Prudential Paul Ford in Easton says sales are a little better in some suburban areas like Forks and Palmer townships.

One recent sales report, however, shows a decline in Palmer/Forks sales compared with a year ago. But another report shows Easton area sales have increased compared with a year ago, a local agent said.

“Overall, things do seem to be moving. Both residential and commercial sales are more encouraging this spring,” Shaughnessy said. “The real estate market has certainly been affected by the recession and the number of foreclosures and short sales. It is still a buyer's market, but this spring seems more encouraging for real estate values on a local level.”

Most of the properties range in asking price up to $350,000—properties in the higher ranges are still slow, she said.

Still, the area is attracting residents from out-of-state, particularly the New York City area.

“I think that it's interesting because when you have people coming from outside , they seem very impressed with the affordability,” Shaughnessy said. “Basically when someone comes here...from New York...they seem pretty blown away. 'This is such an opportunity here.' I love hearing that. You can get pretty bogged down sometimes, and that can make your day,” she added.

While Easton may be attracting more out of towners, in Palmer Township ReMax agent Al Moll says he's selling more homes to local buyers.

According to a recent report by Prudential Patt White Real Estate, there were 442 homes for sale in May in the Palmer and Forks area at a median price of $246,000, compared with 402 homes with a median price of $252,200 in May 2010 and 444 with a median price of $281,900 in May 2009, a .5 percent dip overall in the past two years.

Properties under contract in the two townships remained flat over the past two years, going from 44 in 2009, dipping to 30 in 2010 and then springing back up to 44 in May. The median home price in the area was the only downturn, dipping 17.4 percent from $230,000 in 2009 to $190,000 in May. The number of listings remained fairly the same with 81 new listings in May versus 83 in May 2010.

Over in Easton, Moll concurred with those figures, saying that Easton area sales were up in May compared with 2010, according to a ReMax report.

“They are much improved over last year," he said. "The whole market has improved. It's just a great time to buy.”

But the housing market improvement is not out of the blue.

“It's been a gradual thing,” Moll said.

Most of the properties he's selling range up to about $250,000, and then he's showing a few in the over $350,000 range, he said.

Over in Palmer and Forks those figures decreased by 29.3 percent over the past two years, according to the Prudential Patt White Real Estate report.  A total of 29 properties were sold at a median price of $190,000 in May versus 55 sold at a median price of $227,920 one year ago and 41 homes sold in 2009 for the area.

Whether the overall area trend will continue remains to be seen, Moll said, adding that the answer will be clearer after summer sales numbers arrive in August.

Shaughnessy, however, is optimistic and plans to market some homes locally in Brooklyn and other New York neighborhoods.

She says job market recovery is key to home sales, and the local outlook is good. She especially has hopes for the jobs the new St. Luke's Riverside in Bethlehem Township will bring, along with other signs of recovery.

“If people are feeling more confident in the job market, then they will feel more confident in making a major investment purchase,” she said.