February 2014 was a month of market normalization. As mortgage
delinquencies faded, investor activity moderated and influenced market data.
Year-to-date closed sales decreased 10 percent from 721 in 2013 to 649 this
year. Pending sales decreased 7.2 percent with 933-recorded last year to 866
The median sales price has remained the same during the month of February
since 2012 at $150,000. The year-to-date average sales price increased 4
percent from $172,091 in 2013 to $178,952. During the month of February 2013
the average sales price was recorded at $168,060 while February 2014 reported
a slight increase to $170,199, up 1.3 percent.
Homes sold more quickly year-to-date decreasing the number of days on the
market 7.4 percent to75 days compared to 81 days in 2013. The months supply
of inventory decreased 17.1 percent to 5.8 months during February 2014
compared to 7 months during February 2013.
If you are thinking of selling or buying a home please contact us at Assist 2 Sell Buyers and Sellers Advantage. Our website is www.ServiceAndSavings.com and email is email@example.com.
Data was obtained from Lehigh Valley Association of Realtors.