The Long & Foster Market Minute
Focus On: Lehigh County Housing Market September 2014
Units Sold
298
Active Inventory
1,990
Median Sale Price
$174,900
Days On Market
62
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -4%
Vs. Year Ago
No Change
Vs. Year Ago
Up 6%
Vs. Year Ago
No Change
Vs. Year Ago
Units Sold
There was a decrease in total units sold in September, with 298 sold this month in Lehigh County Real Estate versus 368 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 4% versus September 2013.

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Active Inventory
The total number of homes available this month is 1,990 units, which is similar compared to a year ago. This month's total of 1,990 is lower than the previous month's total supply of available inventory of 2,057, a decrease of 3%.

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Median Sale Price
Last September, the median sale price for Lehigh County Homes was $165,000. This September, the median sale price was approximately the same at $174,900. The current median sold price is 6% higher than in September 2013.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
565
Current Contracts
351
Sold Vs. List Price
96.9%
Months of Supply
6.7
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 1%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Up 4%
Vs. Year Ago
Months of Supply
In September, there was 6.7 months of supply available in Lehigh County, compared to 6.4 in September 2013. That is an increase of 4% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 565 homes newly listed for sale in Lehigh County compared to 559 in September 2013, an increase of 1%. There were 351 current contracts pending sale this September compared to 299 a year ago. The number of current contracts is 17% higher than last September.

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Sale Price to List Price Ratio
In September, the average sale price in Lehigh County was 96.9% of the average list price, which is 0.8% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 62, which is similar compared to a year ago.

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*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by LVAR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of LVAR or Long & Foster Real Estate, Inc.