“One of our goals at The Schimmel Group Home Selling Team is to help our clients make better decisions with respect to important things like buying or selling a home by having all the facts and information they need at hand and that includes keeping them well informed about current market conditions in their area. As part of our effort to accomplish that goal, please find below a copy of our latest Lehigh Valley Market Trends report. We publish this data to provide detailed insight into the inner workings and trends for the real estate marketplace in the Lehigh Valley area."
If you have any questions about this report (see the definitions below), the housing market in general or more information about your specific home buying or selling needs, please give me a call at (610) 428-1444.
|
Active Listing |
New Const |
Pendings |
Pending Ratio |
Number of Expired Listings Last Twelve Mos. |
Number of Closings Last Twelve Months |
Sold /Mo |
Invent. (Mos.) |
Average List Price (Sold Homes) |
Average Sold Price |
List to Sales Ratio Overall |
Days on Mkt. | |
|
0-49,999 |
69 |
0 |
20 |
29.0% |
57 |
134 |
11.17 |
6.2 |
$41,565.00 |
$ 34,743.00 |
83.6% |
98 |
|
50,000- 74,999 |
168 |
0 |
24 |
14.3% |
156 |
195 |
16.25 |
10.3 |
$67,786.00 |
$ 61,824.00 |
91.2% |
102 |
|
75,000- 99,999 |
268 |
0 |
54 |
20.1% |
333 |
248 |
20.67 |
13.0 |
$92,820.00 |
$87,523.00 |
94.3% |
104 |
|
100,000- 124,999 |
269 |
2 |
53 |
19.7% |
314 |
402 |
33.50 |
8.0 |
$118,110.00 |
$113,228.00 |
95.9% |
94 |
|
125,000- 149,999 |
335 |
2 |
70 |
20.9% |
380 |
550 |
45.83 |
7.3 |
$142,029.00 |
$137,700.00 |
97.0% |
88 |
|
150,000- 174,999 |
336 |
14 |
74 |
22.0% |
400 |
629 |
52.42 |
6.4 |
$167,360.00 |
$162,246.00 |
96.9% |
88 |
|
175,000- 199,999 |
376 |
21 |
86 |
22.9% |
502 |
711 |
59.25 |
6.3 |
$192,783.00 |
$186,739.00 |
96.9% |
103 |
|
200,000- 249,999 |
608 |
61 |
121 |
19.9% |
693 |
939 |
78.25 |
7.8 |
$230,415.00 |
$222,794.00 |
96.7% |
112 |
|
250,000- 299,999 |
433 |
72 |
66 |
15.2% |
574 |
547 |
45.58 |
9.5 |
$282,194.00 |
$273,007.00 |
96.7% |
124 |
|
300,000- 349,999 |
345 |
84 |
55 |
15.9% |
374 |
394 |
32.83 |
10.5 |
$332,783.00 |
$321,766.00 |
96.7% |
130 |
|
350,000- 399,999 |
312 |
98 |
29 |
9.3% |
358 |
264 |
22.00 |
14.2 |
$383,342.00 |
$371,374.00 |
96.9% |
147 |
|
400,000- 449,999 |
144 |
37 |
14 |
9.7% |
162 |
137 |
11.42 |
12.6 |
$436,947.00 |
$419,591.00 |
96.0% |
169 |
|
450,000- 499,999 |
134 |
41 |
13 |
9.7% |
183 |
81 |
6.75 |
19.9 |
$488,964.00 |
$471,476.00 |
96.4% |
184 |
|
500+ |
388 |
138 |
30 |
7.7% |
386 |
188 |
15.67 |
24.8 |
$698,996.00 |
$663,781.00 |
95.0% |
204 |
|
Market Totals |
4185 |
570 |
709 |
16.9% |
4872 |
5419 |
452 |
9.3 |
$3,676,094.00 |
$ 3,527,792.00 |
96.0% |
124.786 |
|
Information obtained from the Lehigh Valley Association of Realtors MLS deemed reliable but not guaranteed |
The Schimmel Group 2/23/2009 | |||||||||||
If you or someone you know is interested in becoming a Real Estate Professional and joing one of the Top Real Estate Teams, check out www.StartingACareerInRealEstate.com
If you know of anyone that would benefit from this report please have them check out www.LehighValleyMarketTrend.com
Thanks,
Anthony Schimmel
This information is obtained from the LVAR MLS and deemed reliable but not guaranteed. We publish the Lehigh Valley Market Overview weekly to provide detailed insight into the inner workings and trends for the real estate marketplace in the Lehigh Valley area. If you have any questions or comments, please send us an e-mail.
The Schimmel Group Report - Lehigh Valley Total Market Overview Report Definitions
Active Listings: Active listings in Lehigh Valley (MLS).
Pendings: Listings which have received an acceptable offer from a buyer and are on the way to closing.
Pending Ratio: Pendings / Active Listings (by price range)
Expired Listings: Listings which have been ‘rejected by the market’ in the past six months. This is a rolling twelve-month (we calculate by going back 365 days from the date of the report) set of listings which were listed for sale and ‘rejected’ by the market and the sellers decided to pull or withdraw them and take them off the market.
Closings: These are homes which were listed for sale, received an offer and closed with a new buyer. This is a twelve-month rolling total (365 days back) of all homes sold.
Sold/Mo: Number of houses sold over twelve-months (365 day period).
Months Inventory: Active Listings divided by Sold/Month. Note: Although many months of listings show for any price range, the average days on the market is normally significantly lower. This is due to the fact that there are normally a substantial amount of homes that are mis-priced or grossly overpriced. Days on Market is driven by the homes that actually sell vs. Months of Inventory.
Average List / Sold Price: These are the averages for all homes that have sold in the past 365 days. MLS Data calculated for the average list and sales price for every home sold in the respective price range.
List to Sales Ratio: Average List Price / Average Sales Price
Days on Mkt.: Average days the homes in the price range that sold over the 365 day period.