11.21.2017 * by Ellen Shaughnessy, Broker/Owner of Free Bridge Realty, llc
Inventory is very low right now in the GLVR (Greater Lehigh Valley Realtors) market which includes Lehigh, Carbon, Northampton Counties plus some overlap into bordering markets of Bucks, Pocono areas, and a few more fringe counties… Both new listings and ‘pending’ / under agreement are UP in the October 2017 market statistics report, and we are noticing that prices are finally going up a tick now too.
Those properties that show well and are not over-priced are flying off the shelf. The low inventory we have is pushing price up a bit now. The economy is strong and joblessness numbers are down. Since last year, October saw the number of listings come down by 3.6%. It is quite a competitive market for buyers & sellers are finally starting to enjoy a bit of a sellers’ market again – after a decade-long reprieve as the Lehigh Valley recuperated from the debilitating mortgage market disaster of 2008.
Check out the details on the latest GLVR Market Update here. We plan to also add some info from the Bucks County and Garden State mlses – update on this blog should be coming soon, by December.
HAPPY THANKSGIVING ALL!