April Market Update 2021
Each month we offer a market update regarding real estate trends across the Lancaster, Allentown, Stroudsburg, and Easton regions for the previous month. As average sale prices increase greatly in the Greater Lehigh Valley area, Stroudsburg saw the biggest jump in average sales price over the year (over 35%). New listings are increasing in Lancaster and Stroudsburg, while Allentown and Easton saw a decrease from April of last year. If you have thought about buying or selling, the numbers are strong for our region, indicating a great time to act!
Main Statistics for April 2021
New listings – Our region saw new listings decrease from last year in April in the Lehigh Valley, and increase in both Lancaster and Stroudsburg. If you were thinking about a summer move, inventory is still low in the valley with a decrease in total listings, so a real estate professional with industry knowledge is going to be more important than ever.
Homes sold – End of month active listings are down 58% and up, the number of homes sold is increased from last year across the board. This means inventory is moving quickly, so make sure you are going into the market with this knowledge or have a professional help you out along the way.
Sale price – Taking a closer look at the sale prices from April 2020 and April 2021, there’s a clear trend. Homes are selling for higher prices today than they were last year. Lancaster’s average sale price was up more than 10% from last year, at $279,339. Allentown and Easton each saw jumps in home sale price averages, too, with margins of 21% and 19%, respectively. But the really hot market for the past few months is Stroudsburg, with an average sale price of $224,000, an increase of over 35% from last year!
Sale to List Price Ratio – Looking at the sale to list price ratio from April things in the Lehigh Valley are the same from last year. Stroudsburg increased 3% from last year reaching a 100% sales to list price ratio. The Lancaster ratio is down 5% from April of last year now sitting at 93%.
Homeway Real Estate
If this market comparison has inspired you to consider a move, let Homeway Real Estate be your guide! In today’s real estate industry, you need a knowledgeable partner who continues to keep a finger on the pulse of the Lancaster, Stroudsburg, Easton, and Allentown markets. Contact us today and explore your options for selling with an expert marketing plan, look into refinancing, or start shopping for your dream home.