July 2015 Lehigh Valley Market Update

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The Lehigh Valley is continuing its positive momentum at a healthy pace: as rhythmic as a John Bonham drum beat.

Lehigh Valley Association of Realtor Report.

 All of these metrics are good -- lets delve deeper.

a) The Amount of Closed Sales: Up 12.7% YTD compared to last year -- month over month 15.6%

b) There are more homes settling for more

Reaction: Average Sale Price for the year went down a little from this month as compared to last month. However, more homes settled so there is a larger pie being shared. I think the price increase is a healthy amount and it helps people continue to dig out of their negative equity.

c) Pended Sales: The future looks good.

Reactions: Look out below its a huge tower of Under Contract homes.

School Districts: Top Three Risers In Average Sales Price-

1) Northampton up 22.8%
2) Southern Lehigh 13.4 %
3) Bangor 9.2%


Zillow Update.

This report is slower to update than the LVAR report. For May 2015 -- the numbers continue to improve. Negative equity continues to decrease and average sales price keeps growing.