Real Estate Agent with Keller Williams/Lehigh Valley Homes TV

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?



Comments (3)

Cameron Novak
The Homefinding Center - Corona, CA
Featured Corona Real Estate Agent Team

Wow Phil... that is a serious influx of new listings for a two day period.   Prices may fade a bit, but the transactions should be happening.

Feb 15, 2011 03:34 PM
Phil Osborne
Keller Williams/Lehigh Valley Homes TV - Bethlehem, PA

Cameron, that is what I would have thought ("transactions should be happening") considering the number of new listings, our total residential inventory is over 4k not including investment properties.  Hopefully we will see a large influx of buyers in the coming months

Feb 15, 2011 03:44 PM
Sarasota & Manatee Counties FL
SaraMana Properties - - Bradenton, FL - Listings In Paradise

Has something happened (plant closing, layoffs, etc.) to cause the sudden increase in listings?

Feb 15, 2011 04:49 PM