2105 is starting out strong for the Parkland Real Estate Report Card with strong indicators that homes in the Parkland School District will still be in high demand this spring and summer. The number of new homes on the market at the start of the year is up 41.7% to start the year, from 60 a year ago to 85 this January. This may be due to the fact that while this winter has not been fun, we haven't had nearly as much snow as a year ago. We had a delayed spring market last year due to the weather but this year has found that buyers are still out there looking for homes in the cold and snow. The numbers bear this out throughout the Lehigh Valley, with the number of homes under agreement up 50% from last January! In the Parkland area this means the number of homes going under agreement went from 34 last year to 51 in 2015.
Find a new home in the Parkland School District
Closed sales were about the same with 40 last year and 38 this year, but the average sale price has increased almost 10% YTD, mostly due to the fact that some of those sales were newly constructed homes which typically have a higher sale price. It's still a little too early to see if this trend will continue in 2015, but we expect that it won't. We expect to see a little more modest 2-3% gain this year, which will still be better than anything we've seen since 2007.
Find out how much your Parkland home is worth
There are currently 292 homes for sale in the Parkland School District which is flat compared to a year ago when there were 288 homes on the market.There were 2 foreclosed homes sold in the area in January and there are currently 8 'distressed' properties, meaning either in foreclosure or short sale status. This account for only 2.7% of the current listings, one of the lowest rates in the Lehigh Valley.
If you're thinking about buying or selling a home in the Parkland School District give us a call at 484-893-1234. We're always willing to help with all of your real estate needs and answer any questions.
All data courtesy of the Greater Lehigh Valley Association of Realtors, January 2015.
Comments (1)Subscribe to CommentsComment