The Period at a Glance
Commercial real estate is the core of what we do. From January 1 through June 30, 2026, 33 commercial properties closed in Luzerne County through the multiple listing service, down from 41 over the first half of 2025. The median sale price was ($315,000), and total sale volume was about ($12.8 million), against ($19.5 million) a year earlier, when a single ($6.2 million) sale accounted for nearly a third of the volume.
Fewer properties sold, but on better terms for sellers. The median property sold for (92.4%) of its final list price, against (89.6%), and spent a median of 63 days on the market, against 73. None of the period's commercial sales closed above asking.
The first quarter of 2026 produced 17 sales at a median of ($360,000). The second quarter produced 16 at a median of ($295,000).
Sales by Price Band
| Price Band | Closed Sales | Share |
|---|---|---|
| Under $200,000 | 10 | 30% |
| $200,000 To $500,000 | 13 | 39% |
| $500,000 To $1,000,000 | 8 | 24% |
| Over $1,000,000 | 2 | 6% |
About seven in ten of the period's commercial sales closed under ($500,000). That is the profile of an owner-user and local investor market, Main Street storefronts, mixed-use buildings, small offices and business properties, rather than institutional assets. Only two sales cleared ($1 million).
What Kind of Commercial Property Sold
| Property Type | Closed Sales | Median Sale Price |
|---|---|---|
| Business | 12 | $282,500 |
| Mixed Use | 6 | $498,750 |
| Office | 3 | Too Few to Publish |
| Warehouse | 3 | Too Few to Publish |
| Industrial | 1 | Too Few to Publish |
| Not Classified by the Listing Agent | 8 | $265,000 |
Business properties were the largest identified category this half, and mixed-use buildings, typically retail on the ground floor with apartments above, carried the highest median of the categories large enough to publish. By location, Kingston led with 5 sales, followed by Forty Fort with 4, and Hazleton, Shavertown and Wilkes-Barre with 3 each. No town had enough sales to publish its own median.
The Industrial Backdrop
The for-sale market above is only part of the commercial picture. The larger story in Greater Pittston and the broader NEPA submarket is industrial. Northeastern Pennsylvania industrial vacancy was (6.4%) at the end of March and (7.1%) at the end of June as about 2.3 million square feet of new space delivered, with warehouse asking rents near ($7.79) per square foot against ($10.03) nationally. That corridor is covered in our separate NEPA Industrial Market Outlook for the same period. It matters here because the jobs, traffic and investment it brings are what support demand for the office, retail and mixed-use property that trades through the MLS.
The Surrounding Counties
Commercial sales in Lackawanna, Wyoming, Monroe and Carbon recorded in our MLS during the period were too few to publish a reliable median, so we do not. What is true across the region is that commercial value is driven by income, not by comparable sales alone. Any commercial property, in any of these counties, is best evaluated on its own income and lease structure rather than against a countywide figure.
How Commercial Property Is Actually Valued
A median sale price is a useful orientation figure, but it is not how a commercial property is valued. Value is driven by income, the net operating income a property produces, the strength and length of its leases, the quality of its tenants, and the capitalization rate a buyer applies to that income. Two buildings at the same price can be worth very different amounts depending on whether they are fully leased to strong tenants or sitting half vacant. That is why every commercial deal we advise on starts with the rent roll and the expense structure, not the list price.
Methodology and Sources
Every figure in this report is a closed commercial sale recorded in the Luzerne County Association of REALTORS multiple listing service with a close date from January 1 through June 30, 2026, across all listing brokerages. The comparison period is January 1 through June 30, 2025. Commercial leases are excluded. A property the listing agent entered twice under two property types is counted once. Nominal transfers recorded under ($1,000) are excluded. Property types are as entered by the listing agent. Industrial context is drawn from our NEPA Industrial Market Outlook for the same period and its Cushman & Wakefield and Lee & Associates sources.
- Luzerne County Association of REALTORS multiple listing service, closed commercial sales, January 2025 through June 2026, retrieved September 23, 2026
- JJNRE NEPA Industrial Market Outlook, Q1 2026 to Q2 2026, and its underlying Cushman & Wakefield and Lee & Associates sources
Talk to a Local Broker Who Knows This Market
Jonathan J. Nelson Real Estate works the Greater Pittston and NEPA market every day, residential, commercial, industrial, and land. If you are buying, selling, or investing, let's talk.
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