H
omebuyers in Lackawanna and Luzerne counties continue to face a challenging market in 2025, with low inventory and high prices remaining a persistent issue. According to Pat Rogan, owner of Hub Real Estate Group, the average listing price for a single-family home has increased from around $235,000 to $269,000 over the past year, and he expects this trend to continue.

    Rogan attributes the rising prices to inflation and the lack of available homes on the market. As of November, Pennsylvania's median home price was up 11.2% from last year, selling for a median price of $298,400. In Scranton alone, there were only 77 single-family homes for sale as of Monday, with Rogan estimating that the actual number of available homes in the middle market is likely around 45 to 50.

    The influx of out-of-state buyers has added to the inventory issue, with many people moving to the area from larger cities due to factors such as crime, taxes, and affordability. Additionally, those who purchased or refinanced their homes at low interest rates are staying put, rather than considering a move.

    Rogan stresses that more new homes need to be built locally, but high construction costs are deterring potential builders. As a result, buyers are being forced to purchase existing homes, which is driving up prices even further.

    In Luzerne County, associate broker/manager David Hourigan notes that inventory remains low, but expects it to loosen up as the year progresses. He believes that buyers will eventually surrender waiting for lower interest rates and make their moves, leading to an increase in available homes on the market. However, home prices remain significantly higher than they were before the COVID-19 pandemic, with Hourigan attributing this to the rapid shift in the market following the outbreak.