It's always great to tell people good news and the real estate market in the Parkland School District sure seems to have a lot of it lately.
The new numbers for November have just been released from the Lehigh Valley Association of Realtors and there's very little not to like. Forty homes sales were recorded in November, which is actually a decrease from the 47 sold the previous November. This bit of down news is offset by the number of homes currently under an agreement of sale but not yet closed, which increased from 27 a year ago to 44 this November. This is a great indicator that the market in the Parkland area continues to be strong, and I think you'll see it continue in the new year.
Year to date numbers show a 20 percent increase in year-to-date home sales from 2011. Last year saw 467 homes sold by the end of November, this year we have already sold 562 homes within the school district.
Pricing has been fairly stable for the last several months, and in November we saw average price increases of about 1 percent in the Lehigh Valley compared to year ago numbers. Nothing to get too excited about yet, but it's a step in the right direction.
One area where we have made great strides is the number of Days on Market (DOM). The homes that were sold last month averaged about 75 DOM before a buyer was found. This was 12 days faster than a year ago.
Well staged, well priced homes are selling fast which is something we couldn't say several years ago. This is great news for those who need to sell a home in 2013!