The Long & Foster Market Minute

Focus On: Lehigh Valley/Delaware Valley Housing Market September 2021

Units Sold
2,337
Active Inventory
2,653
Median Sale Price
$285,000
Days On Market
22
Down -3%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -39%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 2,337 sold this month in Lehigh Valley/Delaware Valley Real Estate versus 2,558 last month, a decrease of 9%. This month's total units sold was lower than at this time last year, a decrease of 3% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 996 units or 27%. The total number of active inventory this September was 2,653 compared to 3,649 in September 2020. This month's total of 2,653 is lower than the previous month's total supply of available inventory of 3,134, a decrease of 15%.

Median Sale Price
Last September, the median sale price for Lehigh Valley/Delaware Valley Homes was $246,500. This September, the median sale price was $285,000, an increase of 16% or $38,500 compared to last year. The current median sold price is 2% lower than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
2,378
Current Contracts
2,375
Sold Vs. List Price
101.9%
Months of Supply
1.1
Down -12%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In September, there was 1.1 months of supply available in Lehigh Valley/Delaware Valley, compared to 1.5 in September 2020. That is a decrease of 25% 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.

New Listings & Current Contracts
This month there were 2,378 homes newly listed for sale in Lehigh Valley/Delaware Valley compared to 2,693 in September 2020, a decrease of 12%. There were 2,375 current contracts pending sale this September compared to 2,357 a year ago. The number of current contracts is 1% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Lehigh Valley/Delaware Valley was 101.9% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 36, a decrease of 39%.

The Long & Foster Market Minute *Defined as the counties of Burlington, Camden, Gloucester, Mercer in NJ
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.