The Lehigh Valley Market Update - The Year in Review
Comparison of Activity from November 2009 to November 2010
The number of sales during November 2010 decreased by 40% with 361 sales reported as compared to 606 in November 2009.
The Average Sales price for November 2010 was recorded at $200,000, which is an increase of 5.3%compared to November 2009 when the Average Sales price of the month was recorded at $190,000. 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 November 2009 with a Median of $175,000. 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 time on the market for properties sold during October 2010 was 81 days, which is an increase compared to October 2009 at 78 days.
The average sale price compared to list price for residential properties sold during the month of November 2010 is 95%, which is a decrease as compared to November 2009 at 96%.