The Long & Foster Market Minute
Focus On: Lehigh County Housing Market February 2017
Units Sold
243
Active Inventory
1,018
Median Sale Price
$160,000
Days On Market
62
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -3%
Vs. Year Ago
Down -43%
Vs. Year Ago
No Change
Vs. Year Ago
Down -22%
Vs. Year Ago
Units Sold
There was an increase in total units sold in February, with 243 sold this month in Lehigh County Real Estate versus 206 last month, an increase of 18%. This month's total units sold was lower than at this time last year, a decrease of 3% versus February 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 760 units or 43%. The total number of active inventory this February was 1,018 compared to 1,778 in February 2016. This month's total of 1,018 is lower than the previous month's total supply of available inventory of 1,186, a decrease of 14%.

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Median Sale Price
Last February, the median sale price for Lehigh County Homes was $160,500. This February, the median sale price was $160,000, which is similar compared to a year ago. The current median sold price is 6% lower than in January.

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
413
Current Contracts
396
Sold Vs. List Price
97.1%
Months of Supply
4.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -6%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -41%
Vs. Year Ago
Months of Supply
In February, there was 4.2 months of supply available in Lehigh County, compared to 7.1 in February 2016. That is a decrease of 41% 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 413 homes newly listed for sale in Lehigh County compared to 441 in February 2016, a decrease of 6%. There were 396 current contracts pending sale this February compared to 316 a year ago. The number of current contracts is 25% higher than last February.

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Sale Price to List Price Ratio
In February, the average sale price in Lehigh County was 97.1% 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 62, lower than the average last year, which was 80, a decrease of 23%.

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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.