The Lehigh Valley Market Update - The Year in Review
Comparison of Activity from September 2010 to September 2011
The number of sales during September 2011 increased by 20% with 431 sales reported as compared to 358 in September 2010.
The Average Sales price for September 2011 was recorded at $194,000, which is a decrease of 3% compared to September 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 September 2011 was recorded at $179,000, which is a decrease compared to September 2010 with a Median of $182,000. 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 September 2011 was 97 days, which is an increase compared to September 2010 at 77 days.
The average sale price compared to list price for residential properties sold during the month of September 2011 is 96%, which is a decrease compared to September 2010 at 97%.
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