Property in Upper Nazareth

I Sold this house last month and I thought that I was able to get a particularly nice photo of it, so I wanted to share!

Sold Price: $349,800

Price per SQF:$ 95.57

Square Feet: 3660

Disclaimer

Disclaimer:

-All representations concerning the following metrics: For Sale (FS), Under Contract (UC), Sold (S), Median Price (MP) and Month's Supply of Inventory (MSI), as well as any other metrics used in a given post that contains this disclaimer, are specific to one time period.

-All of the data is compiled from the Lehigh Valley Association of Realtor's Multi List and thus variations in the metrics can occur as previously undiclosed information about Settlements or Listings are eventually reported to the Multi List. In essence, these metrics are fluid.

Here are the metrics for the month of June 2012!

Information about Metrics

Status: Slow but Steady Improvement

Supply & Demand full years: Click here for Chart

FS= -11.0 %         Under Contract= 60.3%                 Sold= -3.3

Reaction: The metrics for this time period indicate continuing improvement for the Lehigh Valley Housing market. The Sold metric has been the issue for the year, as it is frequently negative despite the Under Contract metric being dramatically positive.

The problem has often been financing, within the residential market it has become difficult to obtain a mortgage and has impeded many deals.

However, this also means there are a lot of filters prohibiting buyers from reaching the settlement table: in essence this means the people who are settling on properties faced more stringent  requirements for a mortgage; which hopefully means the quality of buyers  now are higher than before the bust.

Supply & Demand year over year (June 2012 vs June 2011)-  Click here for Chart

FS=-6.5%             Under Contract=41.7                      Sold=2.2

Reaction: Every metric is cooperating in this chart. Supply declined, transactions increased, and the amount of properties settling followed suit. Once the Sold metric becomes as exuberantly positive as the Under Contract metric, the Lehigh Valley should see price increases.

Median Price chart full year: Click here for Chart

184,900 @ 553 units sold= -2.5%

Reaction: This is the metric’s best level of 2012. It is still negative, but it is a part of an overall improving trend. From Jan 2012 to June 2012, median price has increased 19%. I added a trend line to emphasize the point, the positive trend is subtle.

Median Price year over year: Click here for Chart

3.9%

Reaction: Since March 2012, this metric has been good for the Lehigh Valley market. This chart can be added to the continuing positive trend for Median Price.

Month’s Supply of inventory full year: Click here for Chart

MSI= 5.4 months @

Reaction: Between 4-6 months of inventory is a normal market. The Lehigh Valley market place is in a normal market according to this number.

Month’s Supply of inventory year over year: Click here for Chart

-38.1%

Reaction: This June is better than last year’s June. As each month beats last year’s standards, the metrics, including MSI, will become more and more compelling, in many cases they already have.