The Long & Foster Market Minute
Focus On: Lehigh County Housing Market April 2015
Units Sold
284
Active Inventory
1,721
Median Sale Price
$162,750
Days On Market
68
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 15%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -18%
Vs. Year Ago
Units Sold
There was an increase in total units sold in April, with 284 sold this month in Lehigh County Real Estate versus 280 last month, an increase of 1%. This month's total units sold was higher than at this time last year, an increase of 15% versus April 2014.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 167 units or 9%. The total number of active inventory this April was 1,721 compared to 1,888 in April 2014. This month's total of 1,721 is higher than the previous month's total supply of available inventory of 1,640, an increase of 5%.

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Median Sale Price
Last April, the median sale price for Lehigh County Homes was $159,000. This April, the median sale price was $162,750, an increase of 2% or $3,750 compared to last year. The current median sold price is 2% higher than in March.

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
683
Current Contracts
440
Sold Vs. List Price
97.5%
Months of Supply
6.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -3%
Vs. Year Ago
Up 25%
Vs. Year Ago
No Change
Vs. Year Ago
Down -21%
Vs. Year Ago
Months of Supply
In April, there was 6.1 months of supply available in Lehigh County, compared to 7.7 in April 2014. That is a decrease of 21% 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 683 homes newly listed for sale in Lehigh County compared to 707 in April 2014, a decrease of 3%. There were 440 current contracts pending sale this April compared to 352 a year ago. The number of current contracts is 25% higher than last April.

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Sale Price to List Price Ratio
In April, the average sale price in Lehigh County was 97.5% 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 68, lower than the average last year, which was 83, a decrease of 18%.

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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.