Lehigh Valley, Pennsylvania Market Update for November 2010

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

Comparison of Activity from October 2010 to November 2010

During November 2010, 361 sales were reported, which is a 1% increase as compared to October 2010 at 358.

The Average Sales Price for November 2010 was recorded at $200,000, down approximately .5% from October 2010 when the Average Sales Price of the month was recorded at $201,000.  The Average Sales Price is obtained by dividing the number of sales into the total sales dollars.

The Median Sales price for November 2010 was recorded at $173,000 which is a decrease compared to October 2010 with a Median of $176,000.  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 November 2010 was 89 days, which is an increase compared to October 2010 at 81 days.

For newly constructed Homes with 4 bedrooms and 2 1/2 baths the Average Sale Price was $390,000 and the Median Sale Price was $393,000.  6 new construction properties were sold during the month of November.  During the month of October 2010 the Average Sale Price was recorded at $318,000 and the Median was recorded at $312,000.

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 2,180 real estate professionals involved in all aspects of the real estate industry.

November Sales Distribution

Sale Price                                              Number of Sales
under $70,000                                              41
$70,001 - $100,000                                       22
$100,001 - $150,000                                     67
$150,001 - $200,000                                     76
$200,001 - $250,000                                     66
$250,001 - $300,000                                     32
$300,001 - $350,000                                     26
$350,001 - $400,000                                     11
$400,001 - $450,000                                      9
$450,001 - $500,000                                      3
$500,001 - $600,000                                      4
$600,001 - $700,000                                      3
$700,001 - $800,000                                      1
$800,001 and above                                       0