CLIENT MARKET UPDATE
NEPA Real Estate Market Update October 26 2026
Published October 26 2026
Northeast Pennsylvania enters the final week of October with more homes for sale, a small mortgage-rate decline, a major manufacturing commitment in Pittston and a clearer path for the Luzerne County rail sale. New Pennsylvania rental laws also give landlords and property managers a December 21 deadline to update key practices.
1 More Homes Are Competing for Buyers
September data for the Scranton Wilkes-Barre market show 1,180 active listings, up 8.1 percent from a year earlier. New listings rose 19.1 percent. The median list price was $271,500, up 3.6 percent, and homes spent a median of 48 days on the market. About 22.3 percent of listings had a price reduction.
What this means for you Buyers have more options and may find more room to negotiate, especially on listings that have lingered. Sellers can still benefit from higher values, but accurate pricing and strong presentation matter because competing inventory has increased.
Sources Realtor.com September market report
2 Mortgage Rates Ease but Remain Elevated
Freddie Mac reported that the average 30-year fixed mortgage rate fell to 7.32 percent on October 22 from 7.40 percent the week before. The 15-year average fell to 6.68 percent. One year earlier, the averages were 6.19 percent and 5.44 percent.
What this means for you The weekly decline is welcome, but it changes a 300,000 dollar loan payment by only about 16 dollars per month before taxes and insurance. Buyers should use a current lender quote before changing their price range, and sellers can compare a permitted credit or rate buydown with a price reduction.
Sources Freddie Mac October 22 release
3 Pittston Wins a Major Manufacturing Project
SendCutSend plans to invest 63.2 million dollars and lease and improve roughly 200,000 square feet at 535 Research Drive in Pittston. The digital manufacturer expects to create 309 jobs over three years. Pennsylvania offered a 3 million dollar grant, and the company may pursue additional manufacturing tax programs.
What this means for you The project strengthens the CenterPoint corridor and could create demand for housing, rentals, contractors and nearby business space. Those effects will build as the facility opens and hiring occurs, so property decisions should rely on confirmed milestones rather than the announcement alone.
Sources Pennsylvania project announcement
4 The Luzerne County Rail Sale Is Back on Track
R J Corman agreed to withdraw its federal lawsuit challenging the selected rail-line sale to Reading and Northern. The court dismissed the case on October 21. County counsel expects the 7 million dollar cash sale to close before year-end, but federal Surface Transportation Board approval is still required and the private settlement terms were not disclosed.
What this means for you Removing the lawsuit makes the sale more likely and could support rail-served industrial properties and future tourism activity. Buyers and sellers should still verify actual rail access, ownership transfer and service plans before assigning value to those possibilities.
Sources WVIA rail settlement report
5 Large Hazle Township Projects Face More Scrutiny
The Hazle Township Planning Commission recommended denial of a request to rezone 779.9 acres for nine warehouses and a wastewater treatment plant. The Board of Supervisors has the final decision. The commission will also hold an October 27 special meeting on draft rules for data centers, battery storage and related energy infrastructure.
What this means for you These are zoning steps, not final project outcomes. Owners and buyers evaluating large tracts should confirm permitted uses, buffers, utilities, environmental limits and the full entitlement path before assuming industrial value.
Sources Times Leader warehouse report Times Leader data-center ordinance report
New Rental Rules Take Effect December 21
Pennsylvania approved two landlord-tenant changes on October 22. Act 64 requires leases to state whether parking is provided and disclose any parking fee. Act 67 limits rental application fees to amounts reasonably related to actual administrative expenses and prohibits using them as general revenue. Both laws take effect in 60 days. Landlords should review forms and practices with their attorney or property manager before December 21.
Sources Act 64 status Act 64 text Act 67 status Act 67 text
What You Missed Last Week
Wilkes-Barre and Lackawanna County proposed holding 2027 property-tax rates steady, but neither budget is final and Lackawanna County warned of future pressure.
Luzerne County authorized the 281,000 dollar sale of 54 West Union Street; closing has not been confirmed.
Downtown Scranton began a temporary traffic-signal and two-way-street evaluation that may affect access and deliveries.
Pennsylvania's new marketing-call and text rules took effect October 18. The UAD 3.6 appraisal transition begins November 2, with an exception process for lenders that are not ready.
Sources Lackawanna budget Wilkes-Barre budget 54 West Union sale Scranton traffic pilot Pennsylvania contact law NAR appraisal delay
What to Watch This Week
October 27: Hazle Township special meeting on draft data-center and energy-infrastructure rules.
October 28: Scranton Beltway public hearing at Pittston Area High School from 4:30 PM to 8 PM. Written comments remain open through November 20.
November 2: UAD 3.6 appraisal transition date. Lenders may use different report formats during the exception period.
December 21: Pennsylvania parking-disclosure and rental-application-fee laws take effect.
Sources Hazle Township meeting Pennsylvania Turnpike engagement page NAR appraisal readiness guide
How Revolve Can Help
Planning a purchase, sale, lease or investment in Northeast Pennsylvania? Revolve Real Estate can help you compare current market evidence, verify property-specific details and build a practical strategy for the next step.
Key Takeaways
Active listings rose 8.1 percent from a year earlier, giving buyers more choice while list prices still increased.
The average 30-year mortgage rate eased to 7.32 percent, but affordability remains strained.
SendCutSend plans a major Pittston manufacturing operation with 309 jobs over three years.
The lawsuit blocking the county rail sale was dismissed after a private settlement.
New state laws will change parking disclosures and rental application fees beginning December 21.
Important Information
Market information is current as of October 25 2026 and may change. This article is for general information only and is not legal, tax, lending or investment advice. Verify property-specific facts and consult the appropriate professionals before making a decision.
