Lehigh Valley, PA Market Update for October 2008
By Brigita McKelvie, Associate Broker, The Broker with horse sense and no horsing around
(Cindy Stys Equestrian and Country Properties, Ltd.)
Once again it is time to find out how the real estate market endured during the previous month. Comparing the activity from September, 2008 to October, 2008, sales and prices once again declined. During October, 2008, 413 sales were reported from 445 in September of 2008. That was a drop of 7.2%. The average price of a home dropped by 4.1%. In September, 2008, the average price of a home was $221,000 as compared to October, 2008, of the average being $212,000. The average time on the market for properties to be sold was 71 days, up from 67 days in September, 2008. Here is a chart of the October Sales Distribution: Sale Price Number of Sales under $70,000 28$70,001 - $100,000 ...
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