The Long & Foster Market Minute

Focus On: Lehigh County Housing Market June 2021

Units Sold
421
Active Inventory
423
Median Sale Price
$263,250
Days On Market
15
Up
Vs. Year Ago
Down -47%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -58%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 421 sold this month in Lehigh County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 378 units or 47%. The total number of active inventory this June was 423 compared to 801 in June 2020. This month's total of 423 is lower than the previous month's total supply of available inventory of 451, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Lehigh County Homes was $231,025. This June, the median sale price was $263,250, an increase of 14% or $32,225 compared to last year. The current median sold price is 9% 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
583
Current Contracts
499
Sold Vs. List Price
102.4%
Months of Supply
1.0
Down -2%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 3.8%
Vs. Year Ago
Down -74%
Vs. Year Ago

Months of Supply
In June, there was 1.0 months of supply available in Lehigh County, compared to 3.8 in June 2020. That is a decrease of 74% 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 583 homes newly listed for sale in Lehigh County compared to 595 in June 2020, a decrease of 2%. There were 499 current contracts pending sale this June compared to 597 a year ago. The number of current contracts is 16% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Lehigh County was 102.4% of the average list price, which is 3.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 36, a decrease of 58%.

The Long & Foster Market Minute
*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 GLVR 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 GLVR or Long & Foster Real Estate, Inc.