Lehigh Valley Pennsylvania Market Update - The Year In Review - May 2009 and May 2010
Comparison of activity from May 2009 to May 2010
The number of sales during May 2010 were reported at 565, up approximately 28% from May 2009 at 442.
The Average Sales Price for May 2010 was recorded at $192,000, down approximately 5% from May 2009 when the Average Sales Price of the month 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 May 2010 was recorded at $175,000, which is a decrease compared to May 2009 with a median of $180,000. The Median Price indicates the mid-point 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 May 2009 at 83.
The average sale price compared to list price for residential properties sold during the month of May 2010 is 97%, which is an increase compared to May 2009 at 96%.
Residential Market Highlights
New Listings Total sales Pending sales Avg. sale price Median sale price Avg. Mkt. Time
Current 1057 565 340 $192,000 $175,000 76
Yr.-to-Date 6026 2105 2211 194,000 173,000 81
Previous Yr. 5675 1690 1923 200,000 180,000 84
Brigita McKelvie, REALTOR
Pennsylvania license #RS297130
Residential, Rural and Horse Properties and Farms
Cindy Stys Equestrian & Country Properties, Ltd.