Lehigh Valley, Pennsylvania Market Update - The Year in Review - Comparison Activity from February 2009 to February 2010.
The number of sales during February 2010 were up approximately 10.4% with 254 sales from 230 sales in February 2009.
The average sales price for February 2010 was recorded at $189,000, as compared to February 2009 with the average sales price of $196,000. That was a decrease of about 3.6% for the average sales price. The average sales price is obtained by dividing th number of sales into the total sales dollars.
The median sales price for February 2010 was recorded at $165,000, which is a decrease compared to February 2009 with a median of $166,000. 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 in February 2010 was 87 days, which remained the same compared to February 2009 at 87.
The average sale price compared to list price for residential properties sold during the month of February 2010 is 95%, which is an increase compared to February 2009 at 94%.
Brigita McKelvie, REALTOR, e-PRO, GRI
Pennsylvania License #RS297130
Residential, Rural and Horse Properties and Farms
Keller Williams Real Estate, Bethlehem, PA