Lehigh Valley home sales July 2022
The average sales price for homes sold in the Lehigh valley in July was $300,000. In July 2021 the average sales price was $275,000, so the price increase continues, right now we're sitting at a little over 9% more than last year for July.
The average days on market is now 13, that's still a very short time. Even with rising interest rates, the Lehigh Valley housing market continues to thrive. The pace may be slowing but it's still a much more aggressive market than any pre-Covid Seller Market..
Main problem still seems to be lack of inventory. The number of new listings hitting the market was down almost 20%, close to sales or down about 18%, however the demand is still strong as there are many buyers looking for homes.
Across the country other metropolitan areas do seem to be slowing, however that we have Ali as one of the few markets still being driven by increased buyer demand, despite rising interest rates.