The Long & Foster Market Minute
Focus On: Lehigh County Housing Market July 2016
Units Sold
377
Active Inventory
1,482
Median Sale Price
$182,500
Days On Market
46
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -16%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -19%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in July, with 377 sold this month in Lehigh County Real Estate versus 473 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 16% versus July 2015.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 1,023 units or 41%. The total number of active inventory this July was 1,482 compared to 2,505 in July 2015. This month's total of 1,482 is lower than the previous month's total supply of available inventory of 1,617, a decrease of 8%.

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Median Sale Price
Last July, the median sale price for Lehigh County Homes was $175,000. This July, the median sale price was $182,500, an increase of 4% or $7,500 compared to last year. The current median sold price is 4% higher than in June.

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
569
Current Contracts
450
Sold Vs. List Price
98.0%
Months of Supply
3.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -22%
Vs. Year Ago
Up 15%
Vs. Year Ago
No Change
Vs. Year Ago
Down -30%
Vs. Year Ago
Months of Supply
In July, there was 3.9 months of supply available in Lehigh County, compared to 5.6 in July 2015. That is a decrease of 30% 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 569 homes newly listed for sale in Lehigh County compared to 727 in July 2015, a decrease of 22%. There were 450 current contracts pending sale this July compared to 391 a year ago. The number of current contracts is 15% higher than last July.

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Sale Price to List Price Ratio
In July, the average sale price in Lehigh County was 98.0% 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 46, lower than the average last year, which was 57, a decrease of 19%.

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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.