Greater Lehigh Valley Realtors just released their July data report showing for the second month in a row home prices have broke records.
The average days on market in July it was only 27 days, and the median sales price is up a whopping 5.7% over July 2018. The median sale price is now $222,000. However inventory is down 17.8%! The total homes sold in July 2019 versus July 2018 is actually down 7.2%, due to the lack of inventory.
This trend continues to create a very very strong seller market. Buyers have less homes to choose from, are paying more, and running into multiple offer situation‘s. The good news for buyers though is that mortgage rates have declined sharply, and are now sitting around 3.875%.
The bottom line: if you’re looking to sell, now is the time! Contact us immediately, we have qualified buyers desperate to find homes!
If you’re looking to buy, we offer a free home buyer consultation explaining the best ways to navigate a sellers market. Contact Us.
