2013 was a very strong year for real estate in the Lehigh Valley. We saw significant improvement in the number of homes sold as well as the average number of days on market. There was even a small gain in the average sale price.These gains can be attributed to the historically low interest rates and more consumers making their way back to the market from the long recession.
Although the first 5 months of 2014 have not had the gains we saw in 2013, the market has remained steady. Pending sales are down 2.8% from last year at this time, however the median sale price is the same at $160,000 and average days on market is 77 days compared to 74 last year.
Obviously this is a big picture snapshot of the entire Lehigh Valley and every area and price point will have a different set of data. Please don't hesitate to contact me if you have questions regarding your housing needs in or around the Lehigh Valley. Dan Falco, Broker/Owner of Assist 2 Sell Buyers and Sellers Advantage, 215-804-7140. email@example.com.
Statistics obtained from LVARMLS.