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LEHIGH VALLEY WEATHER

LV house sales again up in double digits

The Greater Lehigh Valley Realtors (GLVR) have reported that the April housing market showed positive trends that indicate more homes are selling, spending less time on the market, and prices are beginning to rise.

Closed sales in April again increased by double digits, 10.5 percent to 507 houses, up from 459 houses in April 2014, the GLVR has reported.

For the first four months of 2015, closed sales also increased by double digits, 14 percent, to 1,788 houses, up from 1,569 houses sold in the first four months of 2014.

Pending sales in April also continued the upward trend: 20.6 percent to 796, up from 660 April 2014.

New listings in April again decreased, by 3.5 percent, down to 1,298, from 1,345 in April 2014.

Days on the market in April decreased 8.6 percent to 74 days, down from 81 days in April 2014.

"Spring is traditionally a great time to show houses. But all the indicators are pointing to steady improvement in a solid market, even beyond the seasonal push, and that's what is most healthy for the Lehigh Valley." GLVR Chief Executive Officer Ryan Conrad said.

The April closed sales confirm a spring upsurge so far for 2015.

In March, closed sales increased by 19 percent to 514 houses, up from 432 houses for March 2014.

In February, closed sales increased by 4.3 percent to 339 houses, up from 325 houses for February 2014.

In January, closed sales increased 5.7 percent to 373 houses, up from 353 houses sold in January 2014.

In the first four months of 2015, new listings rose 1.1 percent, pending sales increased 25.8 percent, and the average sales price increased by 6.5 percent.

The median sales price in April increased 3.8 percent to $165,000, up from $159,000 in April 2014.

The average sales price in April increased 13.4 percent to $205,180, up from $180,874 in April 2014.

The percentage of list price received in April increased incrementally, 0.2 percent at 96.5 percent, up from 96.3 percent in April 2014.

The inventory of homes in April decreased 8.8 percent to 3,733, down from 4,094 in April 2014.

The months' supply of inventory in April decreased 17.3 percent to 6.2 months from 7.5 months in April 2014. The April months' figure is considered to be in the middle of the 4 to 7 month range of a balanced real estate market.

The housing affordability index in April increased by 6.1 percent, meaning that more people are able to afford to buy a home in the Greater Lehigh Valley.

The Carbon County GLVR data showed a 45.8 percent increase in pending sales at 35, and the median sale price increased 22.1 percent to $105,000. Inventory in Carbon was down by 13.2 percent to 343.

Closed sales of houses data includes that for single-family homes, townhomes and condominiums.

The monthly housing data is collected by the GLVR from its Multiple Listing Service, a comprehensive and nonbiased database that includes housing market information from its more than 2,000 Realtor members.

The GLVR is a not-for-profit trade association providing professional development and training resources, competitive market information, legislative advocacy, a peer review and mediation process for members, and a dispute resolution service for consumers.

The GLVR owns and operates the Greater Lehigh Valley Multiple Listing Service, the Greater Lehigh Valley Real Estate Academy and is publisher of Lehigh Valley Real Estate Weekly.