Lehigh Valley, Pennsylvania Market Update for September 2010

Lehigh Valley, Pennsylvania Market Update - The Month of September 2010 in Review

Comparison of Activity from August 2010 to September 2010

During September 2010, 358 sales were reported, which is down approximately 12.7% from August 2010 at 410.

The Average Sales Price for September 2010 was recorded at $199,000, down about 5.2% from August 2010 when the Average Sales Price of the month was recorded at $210,000.  The Average Sales Price is obtained by dividing the number of sales into the total sales dollars.

The Median Sales price for September 2010 was recorded at $182,000 which is a decrease compared to August 2010 with a Median of $190,000.  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 September 2010 was 77 days, which is an increase compared to August 2010 at 76 days.

For newly constructed Homes with 4 bedrooms and 2 1/2 baths the Average Sale Price was $416,000 and the Median Sale Price was $410,000.  3 new construction properties were sold during the month of September.  During the month of August 2010 the Average Sale Price was recorded at $366,000 and the Median was recorded at $358,000.

The statistics presented in the market update are compiled each month based on the figures generated from the Lehigh Valley Association of REALTORS Multiple Listing Service.  Average Sales prices and Median prices fluctuate monthly depending upon the number of sales at the high or low end of the price range.  The Lehigh Valley Association of REALTORS represents 2,240 real estate professionals involved in all aspects of the real estate industry.

July Sales Distribution

Sale Price                                              Number of Sales
under $70,000                                              37
$70,001 - $100,000                                       23
$100,001 - $150,000                                     78
$150,001 - $200,000                                     66
$200,001 - $250,000                                     58
$250,001 - $300,000                                     46
$300,001 - $350,000                                     24
$350,001 - $400,000                                     10
$400,001 - $450,000                                      6
$450,001 - $500,000                                      4
$500,001 - $600,000                                      3
$600,001 - $700,000                                      2
$700,001 - $800,000                                      0
$800,001 and above                                       1

Brigita McKelvie, REALTOR

Pennsylvania License #RS297130

Residential, Rural and Horse Properties and Farms

Cindy Stys Equestrian & Country Properties, Ltd.

The Premier Equine and Country Realty Firm covering Eastern Pennsylvania from back yard to world-class facilities.