Spring brings new inventory and increased sales to real estate market

The Greater Lehigh Valley Realtors is reporting that April’s Spring weather helped bring some sellers back to the market, providing additional options to home shoppers during the spring buying season.

“We are seeing the positive signs and momentum that comes with the spring market,” said GLVR CEO Justin Porembo. “Nevertheless, demand continues to outpace supply and properties are selling quickly, with the typical Lehigh Valley home spending 22 days on market. We at the local, state and national levels are looking at advocacy policies to counteract the prolonged issues with supply."

Porembo said closed sales saw a positive showing for the first time since April 2022. They increased 5% to 479 listings.

Inventory remained relatively steady with a 0.3% bump -- a two-listing increase.

There were 575 units in April for Lehigh and Northampton counties. Price growth slowed but still increased with the median sales price up 2% to $321,200.

Other notable housing statistics for April include:

There was slightly more inventory for buyers to choose from as inventory jumped 28.2% to 764.

Pending sales increased 13.3% to 656.

Homes sold, on average, in 22 days, which is two days faster than the previous April.

In Carbon County, the median sales price actually went down, decreasing to $222,500.

Closed sales decreased to 49. Pending sales jumped to 69. New Listings bumped up to 79.

“With increased seller activity and continued buyer interest, we expect a vibrant and competitive real estate market this spring,” said GLVR President Lori Campbell. “The Federal Reserve has delayed rate cuts, but many consumers no longer seem to have the patience to wait or have a pressing need to purchase a home. Additionally, some buyers have accepted they may need to attempt to refinance later, if/when mortgage interest rates drop.”

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