The Long & Foster Market Minute

Focus On: Lehigh County Housing Market March 2018

Units Sold
304
Active Inventory
720
Median Sale Price
$195,000
Days On Market
43
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -13%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -34%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 304 sold this month in Lehigh County Real Estate versus 241 last month, an increase of 26%. This month's total units sold was lower than at this time last year, a decrease of 13% versus March 2017.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 503 units or 41%. The total number of active inventory this March was 720 compared to 1,223 in March 2017. This month's total of 720 is lower than the previous month's total supply of available inventory of 918, a decrease of 22%.

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Median Sale Price
Last March, the median sale price for Lehigh County Homes was $165,000. This March, the median sale price was $195,000, an increase of 18% or $30,000 compared to last year. The current median sold price is 23% higher than in February.

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
457
Current Contracts
409
Sold Vs. List Price
98.3%
Months of Supply
2.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -15%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In March, there was 2.4 months of supply available in Lehigh County, compared to 3.5 in March 2017. That is a decrease of 32% 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 457 homes newly listed for sale in Lehigh County compared to 537 in March 2017, a decrease of 15%. There were 409 current contracts pending sale this March compared to 395 a year ago. The number of current contracts is 4% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Lehigh County was 98.3% of the average list price, which is 0.8% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 43, lower than the average last year, which was 65, a decrease of 34%.

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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.