June was a landmark month for the Lehigh Valley housing market.

The median sales price hit an all-time high of $370,00 and closed sales increased 9.3 percent year-over-year, according to the Greater Lehigh Valley Realtors (GLVR) report for June, released July 15.

“Buyers and homeowners are seizing the opportunity presented by a brief dip in mortgage rates, with the Mortgage Bankers Association recently reporting purchase applications jumping 25 percent, compared to this time last year, while refinance activity surged even higher,” said GLVR CEO Justin Porembo.

“In our region, those lower rates are translating into confidence at the closing table, pushing both prices and sales volume to improved heights,” Porembo said.

“Even with a new record-high median sales price, the Lehigh Valley remains more affordable than many parts of the country,” said Porembo.

“Nationally, home prices rose 1.3 percent year-over-year to $422,800. Our market continues to offer strong value for buyers who are priced out of larger metro areas but deserve access to a great place to live and work like the Lehigh Valley,” Porembo.

“It’s clear that opportunity is knocking for both buyers and sellers,” said GLVR President Michael Bernadyn.

“With mortgage rates offering a brief window of relief and market activity on the rise, Realtors are stepping up to help clients navigate competitive conditions with confidence. The Lehigh Valley market remains strong, and our members are ready to meet the moment,” Bernadyn said.

June statistics

Closed Sales increased 9.3 percent to 684 listings.

Inventory decreased 4.3 percent with 742 units available in June for Lehigh and Northampton counties.

The Median Sales Price increased 2.3 percent to $370,000, up from the previous price record of $361,550 set in June 2024.

* New Listings increased 10.1 percent to 829.

* Pending Sales increased 15.7 percent to 699.

* Months Supply of Inventory decreased 13.3 percent to 1.3 months.

* Percentage of List Price Received decreased 0.6 percent, but was still above and beyond at 101.7 percent.

* Homes sold, on average, in 18 days, two days slower than the previous June.

Carbon County

The Median Sales Price increased to $275,000.

Closed Sales increased to 59.

Pending Sales increased to 71.

New Listings decreased to 80.

Inventory decreased to 171 units.

Months Supply of Inventory decreased to 2.9 months.

Days on Market was 38 days.

National view

Existing-home sales in the United States increased 0.8 percent month-over-month to a seasonally-adjusted annual rate of 4.03 million units, exceeding economists’ expectations, although sales were down 0.7 percent, according to the National Association of Realtors (NAR).

On a monthly basis, sales increased in the Midwest, Northeast and South, but decreased in the West.

Heading into June, there were 1.54 million units for sale in the U.S., a 6.2 percent increase from the previous month and a 20.3 percent improvement over the same period last year, representing a 4.6-month supply at the sales pace, according to NAR.

Despite the additional supply, home prices have continued to rise nationwide, albeit at a slower pace than during the pandemic, climbing 1.3 percent year-over-year to $422,800 as of last measure.

GLVR information

The Greater Lehigh Valley Realtors is a not-for-profit trade association representing more than 3,000 Realtors in Carbon, Lehigh and Northampton counties.

GLVR provides professional development and training resources, competitive market information, legislative advocacy, peer review and mediation processes for members, and a dispute resolution service for consumers.

GLVR owns and operates the Greater Lehigh Valley Multiple Listing Service and the Greater Lehigh Valley Real Estate Academy.

Realtors are distinguished from real estate licensees by subscribing to a strict code of ethics and standards of practice as defined by the National Association of Realtors.

Information: www.GreaterLehighValleyRealtors.com