The Lehigh Valley housing market reached a milestone in June with the median home sale price climbing to an all-time high of $370,000, while closed sales increased by 9.3% compared to the same period last year.
According to
data released Tuesday by the Greater Lehigh Valley Realtors (GLVR)
, the record price represents a 2.3% increase from the previous high of $361,550 set in June 2024.
“Buyers and homeowners are seizing the opportunity presented by a brief dip in mortgage rates, with the Mortgage Bankers Association recently reporting purchase applications jumping 25% compared to this time last year, while refinance activity surged even higher,” said GLVR CEO Justin Porembo.
Porembo noted that these lower rates are “translating into confidence at the closing table, pushing both prices and sales volume to improved heights.”
The June report showed closed sales reached 684 listings across Lehigh and Northampton counties, while available inventory decreased by 4.3% to 742 units.
Despite the record prices, GLVR officials emphasized that the region remains relatively affordable compared to other markets. “Even with a new record-high median sales price, the Lehigh Valley remains more affordable than many parts of the country,” Porembo said. “Nationally, home prices rose 1.3% year-over-year to $422,800.”
The Lehigh Valley’s average home price in June was $416,398, or 3.5% higher than $402,433 in June 2024, according to the latest GLVR report.
Other key indicators showed a market gaining momentum, with new listings growing 10.1% to 829 and pending sales improving 15.7% to 699. The months supply of inventory dropped 13.3% to just 1.3 months, indicating a continued seller’s market.
Homes in the Lehigh Valley sold for an average of 101.7% of list price in June, though this figure represented a slight decline of 0.6% from last year.
Properties spent an average of 18 days on the market before selling in June, two days longer than in June 2024.
In neighboring Carbon County, the median sales price increased 25% year-over-year to $275,000 in June from $220,000 in June 2024, with closed sales rising to 59 and pending sales growing to 71. The county saw inventory decrease to 171 units, with homes taking an average of 38 days to sell. Carbon’s average home price reached $286,728 in June, or 38.6% higher than $206,844 a year ago.
GLVR President Michael Bernadyn described the current market as an opportunity for both buyers and sellers. “With mortgage rates offering a brief window of relief and market activity on the rise, Realtors are stepping up to help clients navigate competitive conditions with confidence,” he said. “The Lehigh Valley market remains strong, and our members are ready to meet the moment.”
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Generative AI was used to organize data for this story, based on data provided by the Greater Lehigh Valley Realtors. It was reviewed and edited by Lehighvalleylive.com.
