The Long & Foster Market Minute

Focus On: Lehigh County Housing Market August 2017

Units Sold
418
Active Inventory
1,120
Median Sale Price
$200,000
Days On Market
31
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
No Change
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 418 sold this month in Lehigh County Real Estate, an increase of 8%. This month's total units sold is similar compared to a year ago.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 828 units or 43%. The total number of active inventory this August was 1,120 compared to 1,948 in August 2016. This month's total of 1,120 is lower than the previous month's total supply of available inventory of 1,250, a decrease of 10%.

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Median Sale Price
Last August, the median sale price for Lehigh County Homes was $193,000. This August, the median sale price was $200,000, an increase of 4% or $7,000 compared to last year. The current median sold price is 8% higher than in July.

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
504
Current Contracts
445
Sold Vs. List Price
98.0%
Months of Supply
2.7
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -5%
Vs. Year Ago
Up 16%
Vs. Year Ago
No Change
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In August, there was 2.7 months of supply available in Lehigh County, compared to 4.6 in August 2016. That is a decrease of 42% 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 504 homes newly listed for sale in Lehigh County compared to 532 in August 2016, a decrease of 5%. There were 445 current contracts pending sale this August compared to 383 a year ago. The number of current contracts is 16% higher than last August.

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Sale Price to List Price Ratio
In August, 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 31, lower than the average last year, which was 50, a decrease of 38%.

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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.