The cost of buying a home in the Allentown-Bethlehem-Easton areas of Pennsylvania — also known as the Lehigh Valley — is more expensive than ever, local real estate agents said.
The median home sales price for the Lehigh Valley hit $375,000 in July, up 10.3% from July 2024, according to the Greater Lehigh Valley Realtors. The region hit a previous record of $370,000 in June.
Agents said buyers are snatching up homes in part because they recognize Lehigh Valley as one of the few places in the nation where prices are still within their budget.
"While existing-home sales nationally saw a month-over-month decline with the exception of the West, the Lehigh Valley continues to defy that trend with steady sales and another record-setting median price of $375,000," Justin Porembo, the group's CEO, said in a statement. "Nationally, the median existing-home sales price was $435,300 in July, which reinforces that the Lehigh Valley remains a more affordable option for buyers while still offering strong returns for sellers."
Lehigh Valley is Pennsylvania's third-largest metropolitan area by population, behind Pittsburgh and Philadelphia. The region has seen its population swell by the thousands — 7,000 alone between 2023 and 2024, according to U.S. Census estimates — causing a housing affordability crisis, local officials say.
Housing construction has stalled for nearly a decade as more people pile into the region, creating a housing shortage of roughly 9,000 units that is "pricing families out of neighborhoods," according to the Lehigh Valley Planning Commission. The region will need another 54,000 units by 2050 to keep up with today's housing demand, the commission said in a study.
Although listings are rising across Pennsylvania, the Lehigh Valley group also reported that inventory had dropped across the region — down 4.3% from 904 in July 2024 to 865 last month. The number of homes available for sale is important to track within a local housing market because, as economists have noted, having more supply typically helps temper prices.
Closed sales in the region remained unchanged at 624, while new listings fell 6.6% from 862 in July 2024 to 805 last month.
Still, hundreds of properties are currently for sale in Lehigh Valley, according to Homes.com data — including a four-bedroom Colonial in Allentown for $500,000, a three-bedroom Victorian in Bethlehem for $890,000, and a four-bedroom French Provincial in Easton for $839,000.
Days on the market were mostly unchanged, falling one day from 18 a year ago in July to 17 last month. That statistic means homeowners in the Lehigh Valley aren't waiting around to sell their property, said Michael Bernadyn, a ReMax agent in Allentown.
"Hitting a new price record so soon after the last shows just how resilient the Lehigh Valley market continues to be," Bernadyn, the real estate agent group's president, said in a statement. "Homes are still selling quickly and, on average, for more than asking price — a clear sign that buyers are motivated and confident in our region’s long-term value."
