Is Lehigh County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$322,565
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lehigh County have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Lehigh County was $322,565 in May 2024, up 7.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $146K | -14.1% |
| 2 Bedrooms | $225K | $255.7K | +13.7% |
| 3 Bedrooms | $280.4K | $303.3K | +8.2% |
| 4 Bedrooms | $429.9K | $410K | -4.6% |
| 5+ Bedrooms | $320K | $332.9K | +4.0% |
Summary: Lehigh County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.1%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 8.2%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Counties
| Lehigh County | $300.1K | $322.5K | +7.5% |
| Northampton County | $308.3K | $325.6K | +5.6% |
| Bucks County | $445.5K | $464.8K | +4.3% |
| Carbon County | $227.1K | $235.1K | +3.6% |
| Schuylkill County | $132.8K | $136.3K | +2.6% |
Housing Supply in Lehigh County, PA
How many homes are available in Lehigh County, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 974 | 988 | +1.4% |
Summary: The Lehigh County real estate market had 988 homes for sale in May 2024, a 1.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 94 | 101 | +7.4% |
| 3 Bedrooms | 446 | 476 | +6.7% |
| 4 Bedrooms | 299 | 276 | -7.7% |
| 5+ Bedrooms | 130 | 131 | +0.8% |
Summary: The Lehigh County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 0.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 248 | 288 | +16.1% |
Asking Price vs. Sold Price
68 Homes Were Sold
Under Asking
55 Homes Were Sold
At Asking
165 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lehigh County, you could pay more than the asking price. 57.3% of homes here sold above asking price last month.
Summary: A total of 288 homes were sold or pending in Lehigh County in May 2024, up by 16.1% month-over-month. Of the 288 sold homes, 24% were sold under asking, 19% were sold at asking, and 57% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 16 Days | -10.1% |
Summary: Homes in Lehigh County had an average of 16 days on market in May 2024, down by 10.1% compared to last year.
Breakdown of Home Sale Times
245 Homes Were Sold
Under 30 Days
35 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lehigh County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 288 homes were sold in Lehigh County; 85% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
