The Greater Lehigh Valley Realtors (GLVR) March data reported modest figures for Closed Sales and Inventory, but encouraging gains in New Listings and Pending Sales point to a potentially stronger housing market ahead.

The Median Sales Price increased to $350,000.

“Less volatility in mortgage rates, which have settled in the mid-to-high 6 percent range, may be helping home buyers feel more comfortable planning ahead for a purchase,” said GLVR CEO Justin Porembo.

“The Lehigh Valley is showing early signs of renewed activity, with Pending Sales, properties under contract, jumping 20.2 percent in March and New Listings rising 8.5 percent, suggesting growing confidence among both buyers and sellers,” Porembo said.

March statistics

March real estate statistics were a mixed bag in the GLVR report, released April 14.

Closed Sales decreased 7.8 percent, coming in at 415 listings.

Inventory decreased 14.4 percent, with 523 units in March for Lehigh and Northampton counties.

The Median Sales Price increased 4.3 percent to $350,000.

Other notable housing statistics for March include:

New Listings increased 8.5 percent to 624.

Pending Sales increased 20.2 percent to 600.

Months Supply of Inventory decreased 16.7 percent to 1.0 months.

Percentage of List Price Received decreased 1.0 percent, coming in at 100.0 percent.

Homes sold, on average, in 31 days, eight days slower than the previous March.

Carbon County

In Carbon County, the Median Sales Price was steady at $250,000.

Closed Sales decreased three listings to 49.

Pending Sales increased to 59.

New Listings increased to 73.

Inventory was 144 units, an increase of one unit.

Months Supply of Inventory stayed at 2.6 months.

Days on Market was 55 days.

“While challenges like limited inventory and affordability concerns remain, the recent increase in new and pending listings is a clear sign that momentum is building,” said GLVR President Michael Bernadyn.

“As we move deeper into the spring market, both buyers and sellers are finding new opportunities to engage, laying the groundwork for a more active season ahead. In a market this dynamic, working with a Realtor is essential to navigate the process with confidence and success,” Bernadyn said.