The Long & Foster Market Minute
Focus On: Lehigh County Housing Market May 2015
Units Sold
305
Active Inventory
1,797
Median Sale Price
$162,500
Days On Market
69
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
No Change
Vs. Year Ago
Down -23%
Vs. Year Ago
No Change
Vs. Year Ago
Down -3%
Vs. Year Ago
Units Sold
There was an increase in total units sold in May, with 305 sold this month in Lehigh County Real Estate, an increase of 4%. This month's total units sold is similar compared to a year ago.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 547 units or 23%. The total number of active inventory this May was 1,797 compared to 2,344 in May 2014. This month's total of 1,797 is lower than the previous month's total supply of available inventory of 1,856, a decrease of 3%.

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Median Sale Price
Last May, the median sale price for Lehigh County Homes was $162,500. This May, the median sale price was approximately the same at $162,500. The current median sold price is also similar to the median price in April.

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
682
Current Contracts
478
Sold Vs. List Price
97.1%
Months of Supply
5.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -3%
Vs. Year Ago
Up 27%
Vs. Year Ago
No Change
Vs. Year Ago
Down -24%
Vs. Year Ago
Months of Supply
In May, there was 5.9 months of supply available in Lehigh County, compared to 7.7 in May 2014. That is a decrease of 24% 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 682 homes newly listed for sale in Lehigh County compared to 705 in May 2014, a decrease of 3%. There were 478 current contracts pending sale this May compared to 377 a year ago. The number of current contracts is 27% higher than last May.

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Sale Price to List Price Ratio
In May, the average sale price in Lehigh County was 97.1% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 69, lower than the average last year, which was 71, a decrease of 3%.

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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.