Record Setting Trends Continue for Lehigh Valley Housing Market
The lazy days of Summer are proving to be exactly the opposite when it comes to the housing market in the Lehigh Valley. The median home sale price continues to be at a record high of $225,000 for July, tying with last month. Compared to last year’s sale price of $189,900, that’s an 18.5% increase! Homes throughout the valley are now selling, on average, for 98.5% of the asking price. Time is a key factor as the median days on the market is now down to 31 days in the Lehigh Valley; with DLP Realty, that number drops to just 14 days!
Jonathan Campbell, VP of DLP Realty, comments, "We are continuing to see a record low amount of inventory and speed that homes are going under agreement, putting a lot of control in the seller’s hand. Having programs like the Elite Buyer Program at DLP Realty, allows a home buyer to have control of the home buying process and ensure that they get the home they really want. "
Finding a home continues to be a challenge to buyers as the inventory of available properties are at an all-time record low, down 35.7% from last year. At DLP, we’re excited to offer an inventory of 114 available through our Coming Soon properties! Buyers will have exclusive access to homes that are not yet on the market. Whether you’re just beginning your search for a new home or you’ve been looking for a while and frustrated that availability is scarce, get in touch with us today and discover new beginnings.