The Lehigh Valley Market Update - The Year in Review
Comparison of Activity from January 2010 to January 2011
The number of sales during January 2011 increased by 2.8% with 255 sales reported as compared to 248 in Janaury 2010.
The Average Sales price for Janaury 2011 was recorded at $192,000, which is an decrease of 5% compared to Janaury 2010 when the Average Sales price of the month was recorded at $202,000. The Average Sales price is obtained by dividing the number of sales into the total sales dollars.
The Median Sales Price for Janaury 2011 was recorded at $177,000, which is an increase compared to Janaury 2010 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 Janaury 2011 was 97 days, which is an increase compared to Janaury 2010 at 82 days.
The average sale price compared to list price for residential properties sold during the month of Janaury 2011 is 95%, which is a decrease as compared to Janaury 2010 at 96%.
