Local Real Estate Market

Bucking national trends, the real estate market in the Greater Scranton area remains steady with plenty of outstanding properties for residential and commercial buyers. Why not Rediscover Scranton for yourself and see what the buzz is about?

According to George Semian of Semian Gress Real Estate, though buying and selling have slowed slightly heading into the winter months, “prices remain pretty stable.”

Semian pointed out that most of the country is facing a difficult real estate market but said the Greater Scranton area has not experienced much of a hit.

In both the residential and commercial markets, Semian said, the outlook around the region is very good. “There are plenty of properties and motivated sellers.”

In the Scranton Area $150,000 could buy you a 2,400 square foot, two-story home with four bedrooms and two bathrooms. In the Philadelphia area, the same amount of money would get you 828 square feet with two bedrooms and two bathrooms and in the New York City area, it would buy just 650 square feet with one bedroom and one bathroom. In fact, a recent article in the Times-Tribune “Region Fourth in Affordability,” showed that the Scranton/Wilkes-Barre area ranked as one of the most affordable housing markets in the nation, according to a study by Wells Fargo and the National Association of Home Builders.

The Scranton Plan, the industrial marketing arm of The Greater Scranton Chamber of Commerce and community leaders launched Rediscover Scranton to promote and strengthen greater Scranton’s quality of life and business assets. Through Rediscover Scranton, volunteers are identifying and contacting accomplished people with ties to greater Scranton, informing them about economic, quality of living, and growth opportunities, and encouraging them to relocate their businesses and families to the area.