The Lehigh Valley Market Update - The Year in Review
Comparison of Activity from April 2010 to April 2011
The number of sales during April 2011 decreased by 36% with 334 sales reported as compared to 518 in April 2010.
The Average Sales price for April 2011 was recorded at $173,000, which is a decrease of 13% compared to April 2010 when the Average Sales price of the month was recorded at $199,000. The Average Sales price is obtained by dividing the number of sales into the total sales dollars.
The Median Sales Price for April 2011 was recorded at $160,000, which is a decrease compared to March 2010 with a Median of $178,000. 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 April 2011 was 96 days, which is an increase compared to March 2010 at 79 days.
The average sale price compared to list price for residential properties sold during the month of April 2011 is 95%, which is a decrease compared to April 2010 at 97%.
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