Lehigh Valley community is one of hottest real estate markets in US

Once again, a Lehigh Valley community has made the list as one of Realtor.com’s “hottest ZIP codes.”

The 18062 ZIP code, which consists of Macungie and portions of Lower Macungie and Upper Milford townships, along with a portion of eastern Berks County, was ranked 10th by the website for 2024.

Last year, Nazareth’s 18064 ZIP code was recognized , coming in fifth. Bethlehem’s 18017 ZIP code was sixth in 2022 and Bethlehem’s 18018 ZIP code was 12th in 2021.

“Macungie’s growing appeal is a testament to its vibrant community, excellent opportunities for education, and proximity to key amenities, making it a prime destination for homebuyers,” Greater Lehigh Valley Realtors President-elect Michael Bernadyn said. “The demand for homes in the area has continued to surge, and it’s no surprise that Macungie was named to Realtor.com’s Hottest ZIPs for 2024.”

Lehigh County Commissioner Ron Beitler, a former Lower Macungie Township commissioner, said the area’s commitment to preserving farmland and open space has made it an appealing place to homebuyers.

“Despite significant development pressure, the township, in partnership with Lehigh County, has preserved over 1,000 acres of farmland and thousands more acres of protected open space, including active parks and passive recreation areas,” Beitler said. “This preservation effort is directly linked to higher home values, enhancing the quality of life and providing abundant recreational opportunities across the area.”

The list is based on the time it takes properties to sell and how frequently homes are viewed on Realtor.com in each ZIP code. Homes listed in the Hottest ZIPs spent an average of 13 days on the market in June, more than a month less than the national median. Homes also sold for an average of 3.3% over asking price during the first four months of 2024, while nationally homes sold for an average 2.3% under asking price.

The top-ranked ZIP code in this year’s rankings was Gahanna, Ohio (43230), which is near Columbus. The top 10 consisted of three Midwest areas and seven in the Northeast.

Realtor.com said the Southern and Western regions were not represented in the top 10 because buyer interest has shifted away from the areas that are generally unaffordable, or have become less affordable due to significant price growth during the pandemic. The South in particular has seen a significant pickup in for-sale inventory, which has thinned out buyer demand on a per-property basis, cooling off and slowing down the region’s housing market.

“While we’ve seen big changes in the housing market, such as a growing number of homes for sale, this year’s hottest ZIP codes in America show common factors are driving interest in these highly competitive areas,” Realtor.com Chief Economist Danielle Hale said. “Although mortgage rate relief is starting to materialize, this year’s hottest ZIPs reflect the focus on affordability that home shoppers have had over the last few years in the face of high housing costs.

“Concentrated in larger metros across the Northeast and Midwest, these top 10 ZIPs attracted highly qualified home buyers seeking more space without relinquishing proximity to urban amenities,” Hale said.

Homes in the 18062 ZIP code spent an average of 16 days on the market for a median price of $462,000. Of the Realtor.com viewers looking up houses for sale in 18062, 69.7% were from out of the market with 22.7% of them from the New York City and northern New Jersey area.

According to the July market report from the Greater Lehigh Valley Multiple Listing Service, the most recent report available, the East Penn School District, which makes up the majority of 18062, is showing gains across almost all key housing metrics from the same period of 2023:

• New listings: 465 vs. 383 (+21.4%)
• Pending sales: 387 vs. 363 (+6.6%)
• Closed sales: 355 vs. 367 (-3.3%)
• Average sale price: $428,842 vs. $394,801 (+8.6%)
• Inventory (July vs. July): 79 vs. 46 (+71.7%)

The Macungie area was the only Pennsylvania ZIP in the top 10. Lancaster’s 17601 was ranked 17th and the 19606 ZIP code covering Exeter Township, Berks County, was 30th.

Morning Call reporter Evan Jones can be reached at ejones@mcall.com .