Lehigh Valley, Pennsylvania Market Update for June 2010 - The Month in Review
Comparison of Activity from May 2010 to June 2010
The number of sales during June 2010 were up approximately 18.6% at 670 sales as compared to May 2010 at 565 sales.
The average sales price for June 2010 was recorded at $211,000, up approximately 9.9% from May 2010 when the average sales price of the month was recorded at $192,000. The Average Sales price is obtained by dividing the number of sales into the total sales dollars.
The Median sales price for June 2010 was recorded at $191,000, which is an increase compared to May 2010 with a median of $175,000. The Median indicates the mid-point of the range of prices - half the homes sell for less, while half the homes sell for more.
The average time on the market for properties sold during June 2010 was 75 days, which is a decrease compared to May 2010 at 76 days.
Newly constructed homes with 4 bedrooms and 2 1/2 baths had an average sales price of $352,000, which is a decrease as compared to May 2010 at $370,000. The median sales price was reported at $345,000 in June 2010 while in May 2010 the median sales price was recorded at $375,000. 14 new construction properties were sold during the month of June 2010.
The statistics presented in the Market update are compiled each month based on figures generated from the Lehigh Valley Association of REALTORS Multiple Listing Service. Average sales prices fluctuate monthly depending upon the number of sales at the high or low end of the price range. The Lehigh Valley Association of REALTORS represents 2,270 real estate professionals involved in all aspects of the real estate industry.
June Sales Distribution
Sale Price Number of Sales
under $70,000 55
$70,001 - $100,000 41
$100,001 - $150,000 118
$150,001 - $200,000 147
$200,001 - $250,000 108
$250,001 - $300,000 76
$300,001 - $350,000 64
$350,001 - $400,000 32
$400,001 - $450,000 16
$450,001 - $500,000 2
$500,001 - $600,000 5
$600,001 - $700,000 3
$700,001 - $800,000 1
$800,001 and above 2
Brigita McKelvie, REALTOR
Pennsylvania license #RS297130
Residential, Rural and Horse Properties and Farms
Cindy Stys Equestrian and Country Properties, Ltd.
The Premier Equine & Country Realty Firm covering Eastern Pennsylvania from back yard to world-class facilities.
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