I hope this post finds you well! 2014 ended up being a consistent year for the Lehigh Valley
Lets Start with the Lehigh Valley Association of Realtors Report. Please click here for the full Report.
(a)
2013 Prices Decreased by -2.4% and 2014 prices increased by +2.1%
Reaction: It is good to see average price growth. Of course, this small fluctuation is not too much to be exuberant about. However, I think market consistency is important to make people feel safe about housing.
(b) Pended Sales -- Sales Rate
Reaction: For the course of the year Under Contract homes are consistent with 2013. It is interesting that December had a strong comparison at +24% month Year over Year. I would guess this is due to Oil Prices plunging and the interest rates going with it.
(c) Closed Sales:
Reaction: December was also a strong year for closed sales? Hmm, my guess is the interest rate/oil plunge had something to do with this successful month. It also seems the Lehigh Valley buyers are willing to buy. It is a bummer that for the whole year there was less closed sales. However, there was a lesser supply of distressed properties for sale, so I think the closed sales from last year is an overall positive. (Last year it was 13.1% as compared to 10.8% this year.)
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| continued from above. |
1. Saucon Valley +29.9%
2. Catasaqua +15.3 % (this likely has to do with the Traditions of America Sales)
3. Northern Lehigh 8.3%
2. Zillow Update. Please click here for the full report.
It has in many spots in the Lehigh Valley, it will be nice for it to diminish at the aggregate level.
Conclusion: 2014 was a steady as she goes kind of year and 2015 seems like it will be an even better year.
