The Lehigh Valley Market Update - The Year in Review
Comparison of Activity from June 2010 to June 2011
The number of sales during June 2011 decreased by 26% with 499 sales reported as compared to 670 in June 2010.
The Average Sales price for June 2011 was recorded at $200,000, which is a decrease of 5.2% compared to June 2010 when the Average Sales price of the month was recorded at $211,000. The Average Sales price is obtained by dividing the number of sales into the total sales dollars.
The Median Sales Price for June 2011 was recorded at $180,000, which is a decrease compared to June 2010 with a Median of $191,000. 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 June 2011 was 88 days, which is an increase compared to June 2010 at 75 days.
The average sale price compared to list price for residential properties sold during the month of June 2011 is 96%, which is a decrease compared to June 2010 at 97%.