Lehigh Valley, Pennsylvania Market Update - The Month of July 2011 in Review
Comparison of activity from June 2011 to July 2011
During July 2011, 466 sales were reported, which is a 10.6% decrease as compared to June 2011 at 499.
The Average Sales Price for July 2011 was recorded at $194,000, down approximately 3% from June 2011 when the Average Sales Price of the month was recorded at $200,000. The Average Sales Price is obtained by dividing the number of sales into the total sales dollars.
The Median Sales price for July 2011 was recorded at $175,000 which is a decrease compared to June 2011 with a Median of $180,000. 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 Market Time for properties sold during July 2011 was 81 days, which is a decrease compared to June 2011 at 88 days.
For newly constructed Homes with 4 bedrooms and 2 1/2 baths the Average Sale Price was $332,000 and the Median Sale Price was $325,000. 6 new construction properties sold during the month of July 2011. During the month of June 2011 the Average Sale Price was recorded at $376,000 and the Median was recorded at $390,000.
The statistics presented in the market update are compiled each month based on the figures generated from the Lehigh Valley Association of REALTORS Multiple Listing Service. Average Sales prices and Median 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 2,136 real estate professionals involved in all aspects of the real estate industry.
June Sales Distribution
Sale Price Number of Sales
under $70,000 59
$70,001 - $100,000 27
$100,001 - $150,000 90
$150,001 - $200,000 84
$200,001 - $250,000 53
$250,001 - $300,000 49
$300,001 - $350,000 28
$350,001 - $400,000 15
$400,001 - $450,000 12
$450,001 - $500,000 7
$500,001 - $600,000 5
$600,001 - $700,000 3
$700,001 - $800,000 0
$800,001 and above 0
Comments(0)