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Competitive housing market continues in Northeastern and Central PA

Some homes in our area are selling for tens of thousands of dollars over the asking price.

LACKAWANNA COUNTY, Pa. — "For sale" signs dot properties across Lackawanna County, but it's not easy to edge out the competition and get the keys to the front door.

Mariah Deibert has been looking for a home in the Clarks Summit area for more than a year. She's put in five offers but hasn't had any luck just yet.

"You have to move really fast. As soon as it's posted, you have to try to get in and look, and offers are in very quickly," Deibert said.

Marilee Barone is a realtor in Dunmore. She said this boom in the housing market began about eight months ago. She said buyers had more money because they weren't going out during the pandemic and low-interest rates.

She said demand is through the roof, but inventory is low because houses are being bought so quickly.

"Average day on market right now is 60 days, and that includes from the time it goes onto the market to the time it closes," Barone said.

Barone said some houses are being sold for tens of thousands of dollars over the asking price in this competitive housing market.

"I've had instances where it is a bidding war on a couple of my listings. I was just representing a buyer, and we were $30,000 over the list," Barone said.

Barone said the market wouldn't stay this way forever. She expects things to cool down by the start of next year.

In the meantime, Deibert has enlisted realtor Darlene Dalessandro of Next Door Real Estate to help her find her next home.

"It's frustrating, but I'm hopeful that a house will come soon," Deibert said.

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