The Lehigh Valley housing market is showing steady growth, according to the latest report from the valleywide Association of Realtors.
Among the highlights:
- April 2012 home sales, pending home sales, average sale price and year-to-date sales increased over April 2011.
- Home sales and average home sales price increased over March 2012.
“For the past several months, our members have been sharing anecdotal reports that real estate activity is steadily increasing. The market data from our research substantiates in quantifiable terms what we have been hearing,” said Ryan Conrad, chief executive officer of the Lehigh Valley Association of Realtors.
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The latest report says:
- Home sales in the Lehigh Valley increased 33.2 percent over the same time last year with 445 homes sold in April 2012 compared with 334 sold in April 2011.
- On a monthly comparison, home sales increased 12.9 percent, up from March 2012 when home sales were recorded at 394.
- The average home sale price in April was $189,000, increasing about 4.4 percent from the March 2012 average home sale price of $181,000. The average sales price is calculated by the total sales dollars divided by the number of sales.
- The median sales price for April was $171,000, up 6.9 percent from the March median price of $160,000. The median price indicates the mid-point range of prices.
Monthly statistics are based on figures generated by the Lehigh Valley Association of Realtors Multiple Listing Service. Average sales and median prices fluctuate monthly depending on the number of sales at the high or low end of the price range. The year-to-date numbers generally remain more constant.