Is Lehigh County, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lehigh County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Lehigh County has remained a Seller's Market.

Key Takeaway

Lehigh County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lehigh County, PA

How much do homes in Lehigh County, PA cost?

Median Sold Price

$319,165

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$29,725(+10.3%)

Key Takeaway

Homes in Lehigh County have sold for 10.3% more than they did a year ago.

Summary: The median home sold price in Lehigh County was $319,165 in February 2024, up 10.3% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $175K$143.2K
-18.1%
2 $224.2K$250K
+11.5%
3 $270K$294.9K
+9.3%
4 $404.6K$419K
+3.6%
5+ $288.1K$330.6K
+14.8%

Summary: Lehigh County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.1%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 14.8%.

Median Sold Price Compared To Nearby Counties

Northampton County
+11.2%
Lehigh County
+10.3%
Carbon County
+6.5%
Schuylkill County
+6.3%
Bucks County
+3.2%

Housing Supply in Lehigh County, PA

How many homes are available in Lehigh County, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
842740-12.1%

Summary: The Lehigh County real estate market had 740 homes for sale in February 2024, a 12.1% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 44
0.0%
2 9982
-17.2%
3 349294
-15.8%
4 248240
-3.2%
5+ 142120
-15.5%

Summary: The Lehigh County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 17.2%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes decreased by 15.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
227161-29.1%

Asking Price vs. Sold Price

57 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

77 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lehigh County, you could pay more than the asking price. 47.8% of homes here sold above asking price last month.

Summary: A total of 161 homes were sold or pending in Lehigh County in February 2024, down by 29.1% month-over-month. Of the 161 sold homes, 35% were sold under asking, 17% were sold at asking, and 48% were sold over asking.

Days on Market for Lehigh County, PA

How long does it take to sell a home in Lehigh County, PA?

Average Sale Time

Feb 2023Feb 2024CHANGE
35 Days25 Days-28.5%

Summary: Homes in Lehigh County had an average of 25 days on market in Feb 2024, down by 28.5% compared to last year.

Breakdown of Home Sale Times

122 Homes Were Sold
Under 30 Days

28 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lehigh County are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 161 homes were sold in Lehigh County; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Lehigh County, PA

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