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The Greater Lehigh Valley REALTORS® (GLVR) reported December data showed stability and signs of demand, despite the seasonal slowdown and inventory challenges.

GLVR Members: Click HERE to view the full Market Update report for December 2024.

“Inventory remains below the 5–6 months’ supply of a balanced market, and the limited number of homes for sale continues to put upward pressure on sales prices nationwide,” said GLVR CEO Justin Porembo. “While homebuilders have made strides in increasing inventory, existing-home supply in established neighborhoods has dropped significantly, creating a competitive market where buyers often face multiple offers. This imbalance underscores the need for policies and initiatives that encourage more housing development and address affordability challenges.”

December Stats

Closed Sales increased 0.2 percent, coming in at 509 listings. Inventory increased 4.0 percent – there were 604 units in December for Lehigh and Northampton counties. With inventory not yet at a healthy balance between buyers and sellers, the Median Sales Price increased 10.0 percent to $329,900.

Other notable housing statistics for December include:

  • New Listings increased 7.0 percent to 383.
  • Pending Sales were up 4.6 percent to 383.
  • Months Supply of Inventory remained flat at 1.1 months.
  • Percentage of List Price Received slipped 0.4 percent but still came in above and beyond at 100.1 percent.
  • Homes sold, on average, in 24 days, three days slower than the previous December.

In Carbon County, the Median Sales Price increased to $261,000. Closed Sales improved to 59. Pending Sales slipped by one listing to 39. New Listings dropped four listings to 41. Inventory saw a bump with 164 units, leading to a Months Supply of Inventory that increased to 2.8 months. Days on Market came in at 46 days, nine days slower than last December.

“The real estate market can be challenging, with limited inventory and rising prices creating frustration for both buyers and sellers,” said GLVR President Lori Campbell. “REALTORS® have the expertise to guide buyers in finding the right home at the price and terms they want, while also helping sellers price, market, and negotiate their property effectively to achieve the best possible outcome. Whether you’re buying or selling, a REALTOR® is your advocate for navigating today’s competitive market with confidence.”