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Lehigh Valley, Pennsylvania Market Update for May 2010
During the month of May 2010 565 sales were reported, up about 9.1% from April 2010 at 518. (Note: That's without the tax credit incentive.)
The Average Sales Price for May 2010 was recorded at $192,000, down approximately 3.5% from 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 sale dollars.
The Median Sales Price for May 2010 was recorded at $175,000, which was a decrease compared to April 2010 with a median price of $178,000. The Median Price 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 May 2010 was 76 days, which is a decrease compared to April 2010 at 79 days.
For newly constructed homes with 4 bedrooms and 2 1/2 baths the average sale price is $370,000 while in April 2010 the average sale price was recorded at $392,000. The Median Price for new construction for May 2010 is $375,000 while in April 2010 was recorded at $390,000.
May Sales ... more
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