Welcome to Summer in the Lehigh Valley and our quarterly real estate report. Here are some key GLVR (Greater Lehigh Valley Realtors) indicators for the last 6 Months:
Lehigh Valley Dec 30, 2021 June 30, 2022
Median Home Price $280,000 $316,000
Average Home Value Increase +14.2% +14.9%
Average Days on Market 18 12
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MLS statistics for Jan – June 2022 are in, and the Valley’s Real Estate story continues to be one of limited inventory and price appreciation. Inventory still doesn’t satisfy demand, so the Median Sales Price keeps increasing, now up 14.9 percent to $316,000. Your home’s value is appreciating at record speed and houses are flying off the market. We are seeing more price adjustments than we were 6 months ago, but there’s still many more buyers than there are homes for sale. Other notable LV housing statistics for June are:
- New Listings slipped 9.4 percent to 998.
- Months Supply of Inventory was down 8.3 percent to 1.1 months.
- Percentage of List Price Received increased 1.2 percent to 103.8 percent.
- Homes sold, on average, in 12 days, 6 days quicker than last December
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