Lehigh Valley, Pennsylvania Market Update for June 2011

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

Here's some great news for the real estate market in the Lehigh Valley!

Comparison of activity from May 2011 to June 2011

During June 2011, 499 sales were reported, which is a 15.5% increase as compared to May 2011 at 432.

The Average Sales Price for June 2011 was recorded at $200,000, up approximately 7% from May 2011 when the Average Sales Price of the month was recorded at $187,000. 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 an increase compared to May 2011 with a Median of $164,000. 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 June 2011 was 88 days, which is an increase compared to May 2011 at 86 days.

For newly constructed Homes with 4 bedrooms and 2 1/2 baths the Average Sale Price was $376,000 andthe Median Sale Price was $390,000. 9 new construction properties sold during the month of June 2011. During the month of May 2011 the Average Sale Price was recorded at $362,000 and the Median was recorded at $366,000.

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 2,123 real estate professionals involved in all aspects of the real estate industry.

June Sales Distribution

Sale Price Number of Sales
under $70,000 60
$70,001 - $100,000 38
$100,001 - $150,000 95
$150,001 - $200,000 114
$200,001 - $250,000 51
$250,001 - $300,000 51
$300,001 - $350,000 38
$350,001 - $400,000 23
$400,001 - $450,000 16
$450,001 - $500,000 4
$500,001 - $600,000 4
$600,001 - $700,000 2
$700,001 - $800,000 2
$800,001 and above 1