The Long & Foster Market Minute

Focus On: Lehigh Valley/Delaware Valley Housing Market June 2021

Units Sold
2,607
Active Inventory
2,685
Median Sale Price
$285,000
Days On Market
21
Up 27%
Vs. Year Ago
Down -37%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -62%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 2,607 sold this month in Lehigh Valley/Delaware Valley Real Estate versus 2,086 last month, an increase of 25%. This month's total units sold was higher than at this time last year, an increase of 27% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,590 units or 37%. The total number of active inventory this June was 2685 compared to 4,275 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for Lehigh Valley/Delaware Valley Homes was $229,700. This June, the median sale price was $285,000, an increase of 24% or $55,300 compared to last year. The current median sold price is 6% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
3,173
Current Contracts
2,695
Sold Vs. List Price
102.8%
Months of Supply
1.0
Up 18%
Vs. Year Ago
No Change
Vs. Year Ago
Up 4.9%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 1.0 months of supply available in Lehigh Valley/Delaware Valley, compared to 2.1 in June 2020. That is a decrease of 50% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 3,173 homes newly listed for sale in Lehigh Valley/Delaware Valley compared to 2,691 in June 2020, an increase of 18%. There were 2,695 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 3% higher than last month.

Sale Price to List Price Ratio
In June, the average sale price in Lehigh Valley/Delaware Valley was 102.8% of the average list price, which is 4.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 55, a decrease of 62%.

The Long & Foster Market Minute *Defined as the counties of Burlington, Camden, Gloucester, Mercer in NJ
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.