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LEHIGH VALLEY WEATHER

Valley house sales up again; increase 15.6 percent in June

Closed housing sales in the Lehigh Valley were back up in June, increasing again by double digits: 15.6 percent to 779, up from 674 in June 2014.

This continues an upward trend for 2015, according to the Greater Lehigh Valley Realtors (GLVR) monthly report.

Closed sales had been down in May, but were up in April, March, February and January.

The trend for the year is still upward. Closed sales are up 12.7 percent for the year to date to 3,219, compared to 2,856 year-to-date for 2014.

Pending sales increased 35.6 percent in June to 849, up from 626 in June 2014.

Year-to-date pending sales are up 21.3 percent in June to 4,047, up from 3,337 in June 2014.

"The local market statistics halfway through the year are showing a very promising outlook. We expect interest rates to remain low at least through the summer, so it's a great time to invest in real estate in the Greater Lehigh Valley," said GLVR Chief Executive Officer Ryan Conrad.

New listings were down 6 percent in June to 1,218, down from 1,296 in June 2014.

Inventory was down 21.9 percent in June to 3,989, down from 5,106 in June 2014.

The Months Supply was down 30.9 percent in June to 6.5 percent, down from 9.4 percent in June 2014.

Days on Market was down 3.2 percent in June to 60 days, down from 62 days in June 2014.

The median sales price increased 7.9 percent in June to $199,700, up from $185,000 in June 2014.

The average sales price rose 2.1 percent in June to $224,266, up from $219,639 in June 2014.

The percentage of list price received increased slightly at 0.4 percent in June, to 97 percent, an increase from 96.6 percent in June 2014.

The affordability index decreased by 2.3 percent in June from June 2014.

"We're all feeling positive about the market right now," said Chris Raad, GLVR President. "Metrics like inventory and percent of list price received at sale are two of the better statistics to watch this year."

The Carbon County data for June showed that closed sales are up 38.7 percent, pending sales are up 22 percent, and the median sale price increased 33.3 percent to $114,000, up from $85,500 in June 2014.

Closed sales in May declined 2.8 percent to 596, down from 613 in May 2014.

Closed sales in April had increased for the second straight month by double digits, 10.5 percent to 507 houses, up from 459 houses in April 2014, the GLVR reported.

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.

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 Greater Lehigh Valley Real Estate Weekly.