I have been hearing that things have been picking up from many different sources and we have seen some increase in buyer activity over the past 30 days (1/16/11-2/15/11) but to us it seems to be slower than last year. So I did a quick 30 day snapshot of the market here in the Lehigh Valley, Pennsylvania Region (Allentown, Bethlehem, Easton-approx 700k population-3rd largest region in the state). Here is what I have found...
*731 new listings
*145 new listings are foreclosures or short sales
*161 solds and pendings
So a remarkable increase in inventory, just the past 2 days we added 82 listings. Out of those listings 20% were short sale/foreclosures and they were equally split. This is a big increase for us as our market has been relatively spared from high levels of discounted inventory with an average of 10-15% of our inventory being short sale/foreclosure. The SHOCK is the last number-only 161 sales and PENDINGS over the past 30 days. I know it is early in the year but these numbers might break some infamous records in our area. Anyone else in mid sized markets like ours experiencing numbers like this?
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