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January 2010

Month in Review

Market Update A monthly publication of Lehigh Valley Association of REALTORS

®

Comparison of Activity from December 2009 to January 2010 Number of Sales - During January 2010, 248 sales were reported, down approximately 32.2% from December 2009 at 366. Average Sales Price - The average sales price for January 2010 was recorded at $202,000, down approximately 1.9% from December 2009 when the average sales price of the month was recorded at $206,000. The Average Sales price is obtained by dividing the number of sales into the total sales dollars. Median Sales Price - The Median Sales Price for January 2010 was recorded at $175,000 which is a decrease compared to December 2009 with a median of $184,000. The Median indicates the mid-point of the range of prices-half the homes sell for less, while half the homes sell for more. Average Market Time-The average time on the market for properties sold during January 2010 was 82 days, which is a decrease compared to December 2009 at 84 days.

List Price to Sold Price Ratio: The average sale price compared to list price for residential properties sold during the month of January 2010 is 96%, which remained the same compared to December 2009 at 96%.

New Construction: For newly constructed homes with 4 bedrooms and 2 1/2 baths the average sale price is $363,000. The median sales price reported is $327,000. This information is based on 7 new construction properties sold during the month of January. During the month of December 2009 the average sale price was recorded at $345,000, the median was recorded at $353,000. The Average Sales price is obtained by dividing the total number of newly constructed sales into the total sales dollars of newly constructed homes. The Median Sales price indicates the mid-point of the range of sales-half of the homes sell for less, while half of the homes sell for more.

Lehigh Valley Real Estate Statistics: The statistics presented in Market Update are compiled each month based on the figures generated from the Lehigh Valley Association of REALTORS® Multiple Listing Service. Average sales prices and median prices fluctuate monthly depending upon the number of sales at the high or low end of the price range. The year-to-date numbers will generally remain more constant. The Lehigh Valley Association of REALTORS®, “The Voice for Real Estate in the Lehigh Valley”, represents 2285 real estate professionals involved in all aspects of the real estate industry.

Year in Review Comparison of Activity from January 2009 to January 2010: Number of Sales - During January 2010, 248 sales were reported, up approximately 22.2% from January 2009 at 203. Average Sales Price - The average sales price for January 2010 was recorded at $202,000, which remained the same compared to January 2009 when the average sales price of the month was recorded at $202,000. The Average Sales price is obtained by dividing the number of sales into the total sales dollars. Median Sales Price - The Median Sales Price for January 2010 was recorded at $175,000 which is a decrease compared to January 2009 with a median of $187,000. The Median indicates the mid-point of the range of prices-half the homes sell for less, while half the homes sell for more. Average Market Time-The average time on the market for properties sold during January 2010 was 82 days, an increase from 81 days in January 2009.

List Price to Sold Price Ratio: The average sale price compared to list price for residential properties sold during the month of January 2010 is 96%, which remained the same compared to January 2009 at 96%.


Regional Report This table is a complete listing of real estate activity by school district in the Lehigh Valley

191

58

47

108,000

2

244,000

1

35,000

Average Price

Year-To-Date

Average Price

Sales

Average Price

108,000

Sales

47

Average Price

58

Rsdental Lot Investment Prop

Year-To-Date Year-To-Date

Sales

Average Price

191

Pending Listings

Sales

167

New Listings

Pending Sales

Allentown

New Listings

Lehigh Valley School Districts

Year-To-Date

Active Listings

Monthly

Commercial

Sales

Residential

10

66,000

Catasaqua

16

19

3

6

129,000

19

3

6

129,000

0

N/A

0

N/A

0

N/A

East Penn Northern Lehigh Northwestern Lehigh

105

119

35

27

261,000

119

35

27

261,000

0

N/A

0

N/A

1

116,000

26

29

5

4

134,000

29

5

4

134,000

0

N/A

0

N/A

0

N/A

19

20

3

5

271,000

20

3

5

271,000

1

335,000

0

N/A

0

N/A

Parkland

100

105

29

29

257,000

105

29

29

257,000

0

N/A

0

N/A

1

219,000

Salisbury Southern Lehigh WhitehallCoplay

20

20

3

4

193,000

20

3

4

193,000

0

N/A

0

N/A

0

N/A

34

34

8

5

331,000

34

8

5

331,000

0

N/A

2

705,000

0

N/A

37

43

14

3

232,000

43

14

3

232,000

0

N/A

0

N/A

0

N/A

Bangor Area Bethlehem Area

31

38

14

13

188,000

38

14

13

188,000

0

N/A

1

16,000

0

N/A

155

163

49

51

182,000

163

49

51

182,000

0

N/A

0

N/A

1

39,000

Easton Area

119

129

35

21

224,000

129

35

21

224,000

0

N/A

0

N/A

3

68,000

Nazareth Area Northampton Area

41

43

16

6

254,000

43

16

6

254,000

0

N/A

0

N/A

0

N/A

56

54

11

9

163,000

54

11

9

163,000

0

N/A

0

N/A

0

N/A

Pen Argyl

23

27

6

6

153,000

27

6

6

153,000

0

N/A

2

90,000

0

N/A

Saucon Valley

25

27

9

8

465,000

27

9

8

465,000

0

N/A

0

N/A

0

N/A

Wilson Area

27

27

4

4

170,000

27

4

4

170,000

0

N/A

0

N/A

0

N/A

January Sales Distribution Sale Price Number of Sales under 70,000 28 70,001-100,000 26 100,001-150,000 45 150,001-200,000 47 200,001-250,000 29 250,001-300,000 28 300,001-350,000 18 350,001-400,000 9 400,001-450,000 8 450,001-500,000 4 500,001-600,000 2 600,001-700,000 3 700,001-800,000 1 800,001 and above 0

Residential Market Highlights New Total Listings Sales

Pending Sales

Average Sale Price

Median Sale Price

Average Market Tim e

Current

1088

248

302

202,000

175,000

82

Year-to-Date

1088

248

302

202,000

175,000

82

Previous Year

1006

203

251

202,000

187,000

81

(Due to the timeliness of the monthly calculations, please utilize “Residential Market Highlights� for year-to-date totals)


ResidentialAverage Sale Price

The “Average Sale Price” is arrived at by adding sale prices of all properties sold within the LVAR area each month, and dividing that total by the number of sales

202,000

190,000 Nov

206,000

190,000 Oct

198,000

210,000

213,000

202,000

202,000

198,000

200,000

196,000

220,000

202,000

240,000

218,000

260,000

180,000

160,000

140,000

120,000

2009

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

Dec

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

100,000

2010

Residential-Median Sale Price

This graph represents the midpoint of the price range for residential properties settled each month in the Lehigh Valley area.

230,000

175,000

175,000 Nov

184,000

173,000 Oct

177,000

185,000

190,000

180,000 May

170,000

180,000

180,000

Apr

185,000

190,000

166,000

200,000

187,000

210,000

196,000

220,000

160,000 150,000 140,000 130,000 120,000 110,000

2009

2010

(Due to the timeliness of the monthly calculations, please utilize “Residential Market Highlights” for year-to-date totals)

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

Dec

Sep

Aug

Jul

Jun

Mar

Feb

Jan

100,000


This graph represents the total volume of residential sales each month for the entire Lehigh Valley area.

606 537

526

586 Jul

542

589

600

Jun

Residential Sales

406

442

500

335

366

400

248

230

203

300

200

2009

481

488

Sep

Oct

503

479 Jun

450

471 May

Dec

Nov

Oct

Sep

Aug

This graph represents the total number of listings that had their status changed to “Under Agreement” during each month

401

472

600

Apr

Jul

2010

Residential- Pending Sales 500

Jun

May

Apr

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

May

Apr

Mar

Feb

Jan

100

267 216

251

300

302

328

400

200

100

2009

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

Dec

Nov

Aug

Jul

Mar

Feb

Jan

0

2010

(Due to the timeliness of the monthly calculations, please utilize “Residential Market Highlights” for year-to-date totals)


This graph represents the total number of new listings submitted to the Lehigh Valley MLS each month. These listings include sales, leases and rentals

New Listings 1600

1500

1088

1050

1107

1162

1242 1175 Jun

1010 Feb

1177

1006

1100

Jan

1200

May

1205

1300

1259

1400

1000

808

900

800

626

700

2009

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Apr

Mar

600

2010

Residential-New Construction 520,000

This graph represents the “Average Sale Price” of newly constructed homes listed with the MLS during this month. These sales properties have an average of four bedrooms and 2 1/2 baths.

440,000

451,000

443,000

460,000

431,000

449,000

480,000

464,000

500,000

360,000 340,000

363,000

345,000

354,000

379,000 338,000

380,000

370,000

371,000

400,000

384,000

420,000

320,000

2009

2010

(Due to the timeliness of the monthly calculations, please utilize “Residential Market Highlights” for year-to-date totals)

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Feb

Jan

300,000


January 2010 Median Sale Price By School District in Lehigh and Northampton Counties

185,000

138,000

134,000

284,000

128,000

212,000 230,000 131,000 321,000 165,000 112,000

236,000 113,000 493,000 193,000

270,000

275,000

The statistics presented in MARKET UPDATE are compiled monthly based on figures generated by the Lehigh Valley Association of REALTORS速 MLS. Reproduction of any portion of this copyrighted material is prohibited without prior approval of the MLS. President: Cathy Amant Editor: Michael Naratil, Director of MLS

LVAR Market Update - January 2010  

Jan '10 Market update and 2009 Market review...

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