Lehigh Valley Market Update for April 2014
1. Supply & Demand Charts, Median Price Chart and Supply Chart observations
-Median Price was down -2.5 %in the month 2 month view.
-The amount of Sold homes were down -18.6% Month over Month, but the amount of Under Contract homes were up +12.5%
-The Best News, Bank owned properties were down -39.7% and Non-Bank owned properties were down -8.4%
Thoughts: If Bank Owned properties continue to diminish it will free properties to see price accretion. It would be nice if the average Median Price would rise substantially as opposed to continually to marginally increase or decrease. In April, the Median Price marginally decreased.
2. Click here for the Zillow report.
Analysis-
Negative Equity is down to about 20.5 % for Northampton and Lehigh County. Negative equity is when a home has a larger mortgage than the property is worth. It is what is called being "underwater" on a home.
3. Here is a BHHS Fox and Roach's
Northampton County
Lehigh County
I think the video reporter does a pretty good job of taking a few metrics and succinctly giving their meaning.
