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 at $410,000.
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 2,237 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 25
$100,001 - $150,000 68
$150,001 - $200,000 74
$200,001 - $250,000 53
$250,001 - $300,000 41
$300,001 - $350,000 21
$350,001 - $400,000 15
$400,001 - $450,000 5
$450,001 - $500,000 13
$500,001 - $600,000 2
$600,001 - $700,000 2
$700,001 - $800,000 1
$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.
