Lehigh Valley, Pennsylvania Market Update for January 2011

Lehigh Valley, Pennsylvania Market Update - The Month of January 2011 in Review

Comparison of Activity from December 2010 to January 2011

During January 2011, 255 sales were reported, which is a 28.6% decrease as compared to December 2010 at 361.

The Average Sales Price for January 2011 was recorded at $192,000, down approximately 5.4% from December 2010 when the Average Sales Price of the month was recorded at $203,000.  The Average Sales Price is obtained by dividing the number of sales into the total sales dollars.

The Median Sales price for January 2011 was recorded at $177,000 which is a decrease compared to December 2010 with a Median of $181,000.  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 January 2011 was 97 days, which is an increase compared to December 2010 at 82 days.

For newly constructed Homes with 4 bedrooms and 2 1/2 baths the Average Sale Price was $340,000 and the Median Sale Price was $340,000.  1 new construction properties were sold during the month of January 2011.  During the month of December 2010 the Average Sale Price was recorded at $354,000 and the Median was recorded at $358,000.

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 2,166 real estate professionals involved in all aspects of the real estate industry.

November Sales Distribution

Sale Price                                              Number of Sales
under $70,000                                              34
$70,001 - $100,000                                       14
$100,001 - $150,000                                     50
$150,001 - $200,000                                     62
$200,001 - $250,000                                     35
$250,001 - $300,000                                     29
$300,001 - $350,000                                     16
$350,001 - $400,000                                      4
$400,001 - $450,000                                      4
$450,001 - $500,000                                      2
$500,001 - $600,000                                      3
$600,001 - $700,000                                      1
$700,001 - $800,000                                      0
$800,001 and above                                       1