Summer is always a good time for home sales in Carbon County.

That is true this year, but a crucial factor is missing - the homes themselves. The inventory of available homes in Carbon County is as low as many Realtors have ever seen, reflecting a trend seen throughout the region.

This year, home sales didn’t wait until summer to heat up. And the strong market has created a cycle of low inventory, fiercely competitive buyers and increasing sales prices.

“When something comes along, the prices are very high, and a lot of people are forced to pay it if they want a house at this time,” said Ron Dunbar, broker for Bear Mountain Realty in Penn Forest Township.

Real estate agents say that the current situation with the housing market boils down to the fact that there are many more buyers than sellers.

Homes listed under $300,000 will often have four or more offers within just a few days of hitting the market.

In July, the homes for sale in Carbon County spent an average of 18 days on the market, compared to 79 days at this time last year.

The most popular homes are on the market for much shorter times - 3 to 5 days - before they’re purchased.

“If they’re on the market for more than two weeks, we think something is wrong with the house,” said Gail Christman, broker for Gene Durigan Real Estate in Jim Thorpe.

Real estate agents have different theories about why buyers continue to be so motivated. Christman said low interest rates for home loans allow buyers to get more home for a lower payment.

Dunbar says buyers have more money in their pockets thanks to the stimulus, and money that they saved by staying home and driving less during the pandemic.

In the Jim Thorpe Area School District, there is another factor - vacation homes have made a big comeback. Dunbar has buyers as far away as Las Vegas with interest in investing in Jim Thorpe-area real estate.

“City people want that getaway, and so many young people want an investment,” he said.

Many of those buyers are looking to list their homes for rent on Airbnb and VRBO. The pandemic pushed people out of the city and suburbs, and the close proximity of the Poconos made it a popular destination. Many local municipalities have restricted the size and location of short-term rentals, but the potential income is still a big draw.

“They make big bucks on short-term rentals, especially through Airbnb,” said Mary Enck, broker for Mary Enck Realty in Penn Forest Township.

Buyers often have to make offers on multiple homes before one is accepted. Often, they will have to raise their bid, or use an escalator clause, where they agree to increase their bid if there’s competition.

In many cases, buyers are willing to forgo having an inspector look at the home if it gives them a better chance of buying it. That could lead to big unexpected costs after you purchase the home.

“There are cases where there are electrical or plumbing things you might be overlooking and you will bear the brunt of the cost,” Christman said.

Buyers have been willing to pay 50 percent more than a house would have sold for a year ago. Some houses in Penn Forest sell for $80,000 over their asking price.

According to GLVR, June’s median sales price for homes sold in Carbon County was $222,500.

The last time real estate agents saw sale prices remotely close to that on the mountain, it was prior to the 2008 housing crisis.

While the pre-2008 housing boom went on for several years, Enck said that sales this year have been more intense, and at higher prices.

“We had a lot of sales, but pricing wasn’t like this, and not as many. The area has really grown,” Enck said.

But she believes that a peak may be near. While competition among buyers remains fierce, homes over $300,000 are staying on the market longer. If inventory starts to catch up to demand, prices could decrease.

When the 2008 crash happened, many people sold their homes at a loss, knowing they would never recoup their investment. Others lost their homes to foreclosure.

Dunbar said he’s worried the same thing will happen to buyers getting in at the peak of the market.

“It is a big risk. If the market goes down, they’ll be upside down,” he said.