The residential real estate market in the Greater Lehigh Valley continued its robust recovery in September, yielding a 7.1 percent growth in closed sales compared to September 2014. A 17.8 percent jump in pending sales and an average sale 17 days sooner promise that trend may continue.
The residential real estate market in the Greater Lehigh Valley continued its robust recovery in September, yielding a 7.1 percent growth in closed sales compared to September 2014. A 17.8 percent jump in pending sales and an average sale 17 days sooner promise that trend may continue.
“Overall, we are continuing to see a very robust 2015 in pended and closed sales,” said
Brad Patt, senior vice president and regional manager of Berkshire Hathaway HomeServices/Fox and Roach Realtors, Coopersburg. “We have also seen a pretty significant shift from what was a buyers’ market with a surplus of supply to more of a normal market at around six-plus-months’ supply.”
That robust activity extends into Monroe County.
“It’s been very busy, in all price ranges,” said Sandi Meisse, associate broker with RE/MAX Results, Sciota. “We have been busy since the beginning of the year.”
Busyness in Lehigh and Northampton counties created a 5.3 percent growth in closed sales and 20.6 percent bump in pending sales September over September.
“Right now, we have got a very good-paced ‘normal’ market,” Patt said. “Although the stock market has had some volatility, we have some good news and a pretty good economy overall.”
Patt said he anticipates that strong pace to continue if interest rates continue to remain low, especially in homes priced under $200,000.
“We are seeing properties that are well-priced and well-staged at that $200,000 price tag or less selling pretty quickly, in some cases selling with multiple offers on those properties,” he said. “On the sellers’ side, I think we are going to continue to see some reasonable appreciation as we look to the future.
“Overall, it should be a good, healthy market for the balance of ’15 looking into ’16.”
