Lehigh Valley home sales rose sharply in March, providing some hope that the worst of the housing slump is over.
March figures rose 45.7 percent to 335 sales, a big jump from 230 in the prior month, according to a report released today from the Lehigh Valley Association of Realtors.
Those figures are still down 25 percent from last year's pace and further down from prior years. But it also represents the second straight month of rising sales.
Prices showed upward momentum last month as well.
The median sales price rose 11.4 percent to $185,000, compared to $166,000 in February. The median price is now the same as March 2008.
Many analysts consider the median price -- the point at which an even number sell for above and below -- a better barometer than averages, which can be distorted by high or low extremes.
The average sales price rose 3.1 percent to $202,000 from $196,000 in February. That average price at this time last year was $208,000.
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