The Long & Foster Market Minute
Focus On: Lehigh County Housing Market June 2014
Units Sold
328
Active Inventory
1,932
Median Sale Price
$178,500
Days On Market
56
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -5%
Vs. Year Ago
No Change
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -13%
Vs. Year Ago
Units Sold
There was an increase in total units sold in June, with 328 sold this month in Lehigh County Real Estate versus 298 last month, an increase of 10%. This month's total units sold was lower than at this time last year, a decrease of 5% versus June 2013.

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Active Inventory
The total number of homes available this month is 1,932 units, which is similar compared to a year ago. This month's total of 1,932 is higher than the previous month's total supply of available inventory of 1,885, an increase of 2%.

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Median Sale Price
Last June, the median sale price for Lehigh County Homes was $172,000. This June, the median sale price was $178,500, an increase of 4% or $6,500 compared to last year. The current median sold price is 11% higher than in May.

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
675
Current Contracts
396
Sold Vs. List Price
96.4%
Months of Supply
5.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 11%
Vs. Year Ago
Up 27%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Up 5%
Vs. Year Ago
Months of Supply
In June, there was 5.9 months of supply available in Lehigh County, compared to 5.6 in June 2013. That is an increase of 5% 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 675 homes newly listed for sale in Lehigh County compared to 610 in June 2013, an increase of 11%. There were 396 current contracts pending sale this June compared to 312 a year ago. The number of current contracts is 27% higher than last June.

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Sale Price to List Price Ratio
In June, the average sale price in Lehigh County was 96.4% of the average list price, which is 0.6% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 56, lower than the average last year, which was 64, a decrease of 13%.

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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.