Pennsylvania's Pike and Wayne Counties Kept the Second-Home Buyers Covid Brought

The buyers who discovered Pike and Wayne counties during Covid haven’t left. That is the view of Bridget Gelderman, broker/owner of Iron Valley Real Estate Innovate, whose three offices cover the two northeastern Pennsylvania counties. The area sits in the Pocono Mountains, about two hours from New York City and two to three hours from Philadelphia. Rising interest rates have slowed activity slightly in recent weeks, Gelderman says, but they have not reversed the demand that arrived during the pandemic.

“I don’t think our second home market is cooling off, actually quite opposite,” Gelderman says. “I think they found our area after Covid, and we’ve remained pretty steady.”

Who’s Buying and Why They Stay

That steadiness rests on a buyer pool with two distinct halves. Second-home buyers come for weekends, or spend summers in the area and winters farther south. Primary-home buyers either live and work locally or work remotely, sometimes commuting into a metro office a couple of days a week. Gelderman says the remote-work option opened up the market considerably. Most buyers come from New York City and Philadelphia, along with Long Island, Allentown, and Bethlehem.

What draws these buyers, in Gelderman’s account, is room combined with proximity. She thinks many people still don’t realize how close the area is, and she contrasts it with crowded second-home destinations. “Where other areas are a bit crowded, such as the Jersey Shore or Long Island, this is a great option because you have space, more space than those areas tend to offer.”

Lakefronts and Gated Communities

Water access shapes demand more than any other feature. Gelderman notes the area has hundreds of lakes, and she says lakefront homes tend to outperform the broader market. “Lakefronts are definitely sought after,” she says.

Gated lake communities draw buyers for a related reason: they bundle water access with everything else. “Buyers love communities like Hemlock Farms, Wallenpaupack Lake Estates, and The Hideout,” Gelderman says. Their lakes, pools, and organized activities make the association dues well worth it, in her view, and she sees the communities as a strong choice for either a primary or a secondary home.

Even these homes have to be priced right, though, and sellers create the market’s main friction. Many still price as though the post-Covid surge never ended, Gelderman says, and that lengthens days on market as rising rates stretch timelines further. When a well-marketed listing sits anyway, she points to the price or to something about the property that doesn’t appeal to buyers; a listing without professional photos, video, and marketing may simply not be presented properly.

A Calendar Set by Summer

Timing matters for sellers because the market runs on a summer deadline. Buyers want to own before the season starts on Memorial Day weekend, so activity stays steady through fall and picks up again in January. That timing makes winter one of the busiest stretches of the year. “Our market doesn’t really slow down unless you can’t get to the houses due to snow or ice,” Gelderman says.

Interest rates are the one variable she sees interrupting that rhythm. “If they continue to go up, they’ll impact buying power,” she says. Recent increases have slowed the market a little, but she doesn’t expect a temporary rise to slow it over the long term.

Land, Commercial Space, and Rentals

Beyond existing homes, buyers are still building. Gelderman sees a good amount of land selling, especially larger parcels. Construction brings its own challenges: material prices fluctuate, and base prices often differ from what homeowners actually want in a finished house.

For investors, Gelderman sees the clearest opening in commercial real estate. “I think there’s a huge opportunity in our commercial market and bringing commercial businesses to our area that we may not have,” she says. An earlier push toward short-term rentals has subsided, in her account, because “the associations have cracked down a lot more on short-term rentals, as have the townships.”

Taken together, Gelderman’s account describes a market that kept the buyers Covid brought. What drew them – lakes, room, and a two-hour drive from New York – has nothing to do with the pandemic. The adjustment still under way belongs to sellers: homes priced for today’s buyers and marketed properly will sell, while those priced for the post-Covid market will take longer.

About the Expert: Bridget Gelderman is the broker/owner of Iron Valley Real Estate Innovate, which operates three offices with 30 agents in Pike and Wayne counties, Pennsylvania. Her practice covers residential and land sales across the region.

This article is intended for informational purposes only and does not constitute legal, financial, or investment advice. The views and opinions expressed herein reflect those of the individuals quoted and do not represent an endorsement of any company, product, or service mentioned. Readers should conduct their own due diligence and consult qualified professionals before making any investment decisions.