The Long & Foster Market Minute

Focus On: Lehigh County Housing Market October 2017

Units Sold
343
Active Inventory
1,091
Median Sale Price
$180,250
Days On Market
42
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -9%
Vs. Year Ago
Down -42%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 343 sold this month in Lehigh County Real Estate versus 376 last month, a decrease of 9%. This month's total units sold was lower than at this time last year, a decrease of 9% versus October 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 797 units or 42%. The total number of active inventory this October was 1,091 compared to 1,888 in October 2016. This month's total of 1,091 is lower than the previous month's total supply of available inventory of 1,279, a decrease of 15%.

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Median Sale Price
Last October, the median sale price for Lehigh County Homes was $169,950. This October, the median sale price was approximately the same at $180,250. The current median sold price is 6% higher than in October 2016.

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
466
Current Contracts
426
Sold Vs. List Price
97.9%
Months of Supply
3.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -6%
Vs. Year Ago
Up 30%
Vs. Year Ago
No Change
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In October, there was 3.2 months of supply available in Lehigh County, compared to 5.0 in October 2016. That is a decrease of 36% 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 466 homes newly listed for sale in Lehigh County compared to 497 in October 2016, a decrease of 6%. There were 426 current contracts pending sale this October compared to 327 a year ago. The number of current contracts is 30% higher than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Lehigh County was 97.9% 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 42, lower than the average last year, which was 49, a decrease of 14%.

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The Long & Foster Market Minute
*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.