Comparison of Lehigh Valley Home Sales from August 2007 to August 2008:


Number of Sales – During August 2008, 520 sales were reported, down approximately 23.4% from August 2007 at 679.

Average Sales Price – The average sales price for August 2008 was recorded at $228,000, down approximately 5.8% from August 2007 when the average sales price of the month was recorded at $242,000. The Average Sales price is obtained by dividing the number
of sales into the total sales dollars.

Median Sales Price – The Median Sales Price for August 2008 was recorded at $200,000 which is a decrease compared to August 2007 with a median of $210,000. The Median indicates the mid-point of the range of prices-half the homes sell for less, while half the homes sell for more.

Average Market Time-The average time on the market for Lehigh Valley properties sold during August 2008 was 68 days, an increase from 49 days in August 2007.

List Price to Sold Price Ratio:
The average sale price compared to list price for residential properties sold during the month of August 2008 is 97%, which remained the same compared to August 2007 at 97%.

New Construction:
For newly constructed homes with 4 bedrooms and 2 1/2 baths the average sale price is $440,000. The median sales price reported is $391,000. This information is based on 15 new construction properties sold during the month of August. During the month of July 2008 the average sale price was recorded at $421,000, the median was recorded at $401,000. The Average Sales price is obtained by dividing the total number of newly constructed sales into the total sales dollars of newly constructed homes. The Median Sales price indicates the mid-point of the range of sales-half of the homes sell for less, while half of the homes sell for more.

Selling a house here in the Lehigh Valley can be very profitable. The home inspection is an important part of getting the price you want for your home.

The preparations you make prior to listing your home and holding open houses can make all the difference in the price you expect for your home. If you can operate from the perspective of the prospective buyer who expects to see their dream home in pristine condition, you will be better able to receive full market value, or even more. There are several things you need to remember:

1. Realize that while you may view your house as a home that you’re comfortable with even if it is in less-than-ideal condition, others may not see it that way. If you’ve lived in your house for more than a few years and have accumulated various items, give yourself a few months prior to the listing date to clean the home.

2. Do repairs and upgrades as necessary. An experienced realtor can assist you in getting the best possible value from your home. I know what the client wants to see and can help you prepare the home for inspections.

3. Providing pre-sale inspection reports can reduce the selling hassle. By providing information to alleviate the anxiety of any prospective buyer, you put yourself ahead of your competitors who haven’t taken the time to organize a report. Thus, even if your home has a few quirks, you will be seen as a forthcoming, trustworthy seller.

If you, or someone you know needs help selling their home, or you want more information on home inspections, please feel free to contact me at (610) 533-4549, or visit our website at http://www.govalleyhomefinder.com/

Determining the value of you home is done by researching comparable homes that have sold in close proximity to your home. A licensed real estate agent can do this with a comparative market analysis or CMA. Comparable homes should be of similar size and style, and should be as close to your home as possible. It may sound easy, but it is a complicated process that should be done by a realtor. Homes are a commodity and ultimately the market will determine the price.

For more information on what your home is worth – contact an agent