Lehigh Valley Market Update - The Year in Review July 2010 to July 2011

The Lehigh Valley Market Update - The Year in Review

Comparison of Activity from July 2010 to July 2011

The number of sales during July 2011 increased by 23% with 432 sales reported as compared to 351 in July 2010.

The Average Sales price for July 2011 was recorded at $194,000, which is a decrease of 6.7% compared to July 2010 when the Average Sales price of the month was recorded at $208,000. The Average Sales price is obtained by dividing the number of sales into the total sales dollars.

The Median Sales Price for July 2011 was recorded at $175,000, which is a decrease compared to July 2010 with a Median of $192,000. 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 July 2011 was 81 days, which is an increase compared to July 2010 at 73 days.

The average sale price compared to list price for residential properties sold during the month of July 2011 is 95%, which is a decrease compared to July 2010 at 96%.