The Market Update for April, 2008, for the Lehigh Valley just came out and it is showing some improvement in the real estate market.
Home sales were up in April, 2008, by approximately 11.7%, from 444 sales in March, 2008, up to 496 in April.
The average sale price of a home was recorded at $229,000 for April 2008, where in March, 2008, it was $208,000. That is an increase of 10.1% from the previous month. Even new construction saw an increase. The average sale price of a 4 bedroom, 2 1/2 bath new home was $469,000 in April where as in March it was $418,000.
The average days on the market for a home in April, 2008, was 67 days, down from 73 days in March of 2008.
All in all, it looks like the market has taken a turn for the better in April, 2008.
Brigita: Glad to see things are also looking up in Lehigh!
Here in SW Florida, single family residential sales continue to be strong, although average prices have not moved up at all. A big percentage of sales are REOs at firesale prices, mostly to investors who plan to rent the homes for 3 to 5 years. Some homestaeders, mostly 55+, which is a throw-back to the eighties and nineties for Cape Coral. OB/GYN docs and hospitals complain of drastically reduced business as young families retreat to the old neighborhood "Up Nawth".
JimG
Linda:
It certainly is good news!
Jim:
Great to hear your residential sales are still strong.
Maybe the young families are homesick and miss the cold weather. LOL
Nice positive post Brigita!Let's hear more of those!Have a Great weekend!
Nice positive post Brigita!Let's hear more of those!Have a Great weekend!
BLR Guy:
Being positive is the best thing. It's good for the soul.
You have a great weekend, too!
Brigita, sounds great, good positive news is what we all need at this time.
Things are improving in my market as well. Good luck. Have a great weekend.
Duane:
It should always be about the positive. :-)
Gita:
I believe this whole area is starting to see an improvement.
You have a great weekend, too.