Welcome to Scranton, a city known for its rich history, welcoming communities, and cozy neighborhoods. From its affordable housing options and ample job opportunities to its rich history and diverse neighborhoods, Scranton has something to offer for every type of home buyer.
If you’re ready to dive into Scranton’s real estate market and find your dream home, I’m here to help! Reach out today to start the search!
Why Scranton, PA is a Real Estate Destination
Scranton has earned a place as a real estate destination for an assortment of reasons, from its affordable housing options to its rich history.
The affordable price tags on Scranton’s homes, which are substantially lower than the national average, make this city popular for first-time homebuyers and those looking to invest in real estate.
On top of the affordable pricing, Scranton’s economic growth and ample job opportunities make living here a feasible option for soon-to-be homeowners from all walks of life. The area has a stable economy and robust job market, making it an excellent place to settle down and build a life.
The city also boasts a rich history, accumulated since its inception and incorporation in 1866. Its residents have weathered ups and downs throughout history, yet the city remains strong. Many old buildings featuring captivating historic architecture still dot the streets today, remaining a testament to years gone by.
Overview of Scranton’s Real Estate Market
Scranton’s real estate market is flourishing, with many houses being listed and bought as the days, weeks, months, and years ebb past. The average home in Scranton costs about $170,000, which is up 10.5% since 2022.
However, while local home value has seen a noticeable increase, the average home cost sits far lower than the national average of $412,020. These prices also sit below Pennsylvania’s average median home cost of $274,900, which is also up by 3.6% since last year. Median homes in Pennsylvania are around 1,600 square feet.
Types of Homes for Sale in Scranton
Scranton has been around for many years and boasts an impressive range of historic structures, including a diverse array of homes for sale. Many homes currently on the market were built in the last century and feature architectural features of years past. There are a handful of new builds, but the market is dominated by charming older homes boasting quaint character.
The styles of the homes vary, but Victorian, Colonial, Art Deco, and similar styles. Many of the older homes feature Late Victorian aesthetics, with multiple stories, steeply pitched roofs, and colorfully painted or rusty-colored brick.
Finding Your Ideal Neighborhood in Scranton
Like many cities, Scranton is home to numerous neighborhoods, each with something unique to offer. Each neighborhood has its perks, making it ideal for different home buyers.
For example, Downtown Scranton is perfect for those who like to keep their fingers on the pulse. It’s nestled in the bustling city center, positioning residents close to the action, from trendy eateries to historic landmarks.
The West Side neighborhood, teeming with schools, businesses, and recreational opportunities, is ideal for those who enjoy spending time outside but also love perusing the city. It’s close enough to the various parks for entertaining outdoor activities and just a short drive from the city center.
The East Mountain neighborhood is characterized by its peace and quiet, as it’s far enough away from the city center to offer a serene feel. Residents can enjoy its towering trees, captivating scenic views, and ample places to get fresh air on a revitalizing walk. The neighborhood is dedicated to nature conservation, making it an excellent place for nature and outdoor enthusiasts.
The Buying Process in Scranton
When buying a home in Scranton, there are a few things you can expect from the buying process.
Firstly, you’ll need to iron out the financial details. Calculate how much you can spend on a house and look into mortgage options to determine the best type for you. When you determine these details, you’ll apply for approval through a lender of your choice. Upon receiving pre-approval for a mortgage, you can begin your search.
Once you figure out the specifics of finances, contact a knowledgeable real estate agent. Your agent can help you find a home suited to your needs, budget, and expectations within neighborhoods you like. They’ll ask you about each of these components to help sift through available homes on the market.
The process timeline varies based on the specifics of your situation, including what type of house you’re looking for and availability. Once you find a property you like, it’s time to make an offer.
If your offer is accepted, a home inspection is next. During the inspection, the inspector will examine the home for specific problems, noting anything they find. When they’re done, they’ll give you an itemized list of their findings. Review the inspection with your real estate agent and ask if anything stands out.
If everything looks good, you’ll begin the closing process and take the final steps before moving into your new home!
Tips for Home Buyers in Scranton
Before buying a home in Scranton, consider all aspects of your purchase. Here are a few tips to help you before and during your search for a new home:
- Determine how much you can afford: This should be one of the first things you do when starting the process. It’ll help you determine what homes are within your budget and help you avoid falling in love with a house only to discover it’s out of your budget.
- Shop around for mortgages: Browse through mortgage options before you choose one, as each type has different features and is available to unique groups. Compare your options and select the best fit for your needs.
- Don’t skip pre approval: Getting preapproval before shopping for your home can help show sellers that you’re serious about buying, potentially giving you an edge over those who haven’t done it yet.
- Work with a real estate agent: A real estate agent is a valuable resource during the home-buying process. Your agent can help you scour the market for homes that meet your needs and will walk you through negotiation and closing. Ensure you choose an agent with an in-depth understanding of the local market, as this knowledge can be a handy tool in helping you select the right fit.
- Choose a few neighborhoods: Drive around Scranton’s neighborhoods and talk to your real estate agent to learn more about these areas. As you learn more about them, pick a few that you like. While you can choose one, finding a home in that specific neighborhood might take longer if options are limited.
- Don’t skip the home inspection: This part of the process is essential, as it’ll help you learn more about your home and the potential problems you’re walking into. If you find significant issues, you might be able to get a lower price or have the seller remedy the issues before you purchase the home.
Ready to start house hunting? I’m here to help the process go smoothly. Feel free to contact me to learn more!
Scranton is an attractive and affordable place to call home, earning its place as a real estate destination with its abundant job opportunities, rich history, and affordable home prices. The city has plenty of homes to offer, from charming homes built in the early 1900s to new builds complete with modern conveniences.
With its array of neighborhoods, each with unique advantages, Scranton has something to offer everyone. If you’re ready to start hunting for a home in Scranton, I’m here to help you navigate the process. Reach out today to kickstart the process!