Here is a comparison of activity in the real estate market in the Lehigh Valley from March 2009 to March 2010.
The number of sales during March 2010 were reported at 418, up approximately 25% from March 2009 at 335.
The Average Sales Price for March 2010 was recorded at $192,000, down approximately 5% from March 2009 when the Average Sales price was recorded at $202,000. The Average Sales Price is obtained by dividing the number of sales into the total sales dollars.
The Median Sales Price for march 2010 was recorded at $171,000 which is a decrease compared to March 2009 with a median of $185,000. The median indicates the mid-point of the range of prices - half the homes sell for less, while half the homes sell for more.
Average time on the market for properties sold during March 2010 was 85 days, which is a decrease compared to March 2009 at 87.
Brigita McKelvie, REALTOR, e-PRO, GRI
Pennsylvania license #RS297130
Residential, Rural and Horse Properties and Farms
Cindy Stys Equestrian & Country Properties, Ltd.