The Lehigh Valley Market Update - The Year in Review
Comparison of Activity from February 2010 to February 2011
The number of sales during February 2011 decreased by 2.4% with 248 sales reported as compared to 254 in February 2010.
The Average Sales price for February 2011 was recorded at $193,000, which is an increase of 2.1% compared to February 2010 when the Average Sales price of the month was recorded at $189,000. The Average Sales price is obtained by dividing the number of sales into the total sales dollars.
The Median Sales Price for February 2011 was recorded at $166,000, which is an increase compared to February 2010 with a Median of $165,000. 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 February 2011 was 98 days, which is an increase compared to Janaury 2010 at 87 days.
The average sale price compared to list price for residential properties sold during the month of February 2011 is 95%, which remained the same compared to February 2010 at 95%.
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