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Lehigh Valley, Pennsylvania Market Update for October 2010
Lehigh Valley, Pennsylvania Market Update - The Month of October 2010 in Review
Comparison of Activity from September 2010 to October 2010
During October 2010, 358 sales were reported, which remained the same compared to September 2010 at 358.
The Average Sales Price for October 2010 was recorded at $201,000, up approximately 1% from 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 October 2010 was recorded at $176,000 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 Market Time for properties sold during October 2010 was 81 days, which is a decrease compared to September 2010 at 77 days.
For newly constructed Homes with 4 bedrooms and 2 1/2 baths the Average Sale Price was $318,000 and the Median Sale Price was $312,000. 7 new construction properties were sold during the month of October. During the month of September 2010 the Average Sale Price was recorded at $416,000 and the Median was recorded ... more
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