Is Lehigh County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Lehigh County has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $143.2K | -18.1% |
2 Bedrooms | $224.2K | $250K | +11.5% |
3 Bedrooms | $270K | $294.9K | +9.3% |
4 Bedrooms | $404.6K | $419K | +3.6% |
5+ Bedrooms | $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 | $292.4K | $325K | +11.2% |
Lehigh County | $289.4K | $319.1K | +10.3% |
Carbon County | $218.8K | $233K | +6.5% |
Schuylkill County | $125K | $132.8K | +6.3% |
Bucks County | $442K | $456K | +3.2% |
Housing Supply in Lehigh County, PA
How many homes are available in Lehigh County, PA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
842 | 740 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 99 | 82 | -17.2% |
3 Bedrooms | 349 | 294 | -15.8% |
4 Bedrooms | 248 | 240 | -3.2% |
5+ Bedrooms | 142 | 120 | -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 2024 | Feb 2024 | CHANGE |
---|---|---|
227 | 161 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
35 Days | 25 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
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.