The statistics have come in for the real estate market in thes Lehigh Valley for the first month of 2009. Some of it is good news while some not so good.
To begin with, the number of sales during Januray 2009 dropped by 41% of 203 sales down from 342 sales in December 2008.
The average sales price for January 2009 went down approximately 3.3% of $202,000 from $209,000 on December of 2008. On the other hand, the median sales price for January 2009 increased to $187,000 from the median price of $180,000 in December 2008.
Five new construction properties sold in January 2009. The average sales price for newly constructed homes in January 2009 was $384,000 and the median price was $$357,000. Both the average and median prices for new construction were down from December 2008 of $447,000 and $390,000, respectively.
The good news is that the number of pending sales increased greatly during January 2009 as compared to December 2008. The number of pending sales was 251, up from 188.
The average time on the market for properties sold in January 2009 increased to 81 days from 78 days in December 2008.
January Sales Distribution
Sale Price Number of Sales
under 70,000 17
70,0001 - 100,000 19
100,001 - 150,000 37
150,001 - 200,000 50
200,001 - 250,000 29
250,001 - 300,000 17
300,001 - 350,000 17
350,001 - 400,000 7
400,001 - 450,000 4
450,001 - 500,000 2
500,001 and above 4
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