Lehigh Valley median home prices surpass record high in latest monthly market report [Video]

The Lehigh Valley has done it again.

Median home sale prices across Northampton and Lehigh counties peaked in June at $361,100, a 7.8% increase over June 2023, when prices climbed to $335,000, the highest they’ve ever been in the region’s history (tied in April 2024), according to the report from the Greater Lehigh Valley Realtors.

Rising sales prices actually hindered market activity during what has traditionally been one of the busiest months of the year, said GLVR CEO Justin Porembo.

“Buyers waiting for mortgage rates to again be at once-in-a-lifetime lows are likely going to be waiting a very long time,” he said.

Sellers received roughly 102% of the listing price for their homes in June, the report states.

The Housing Affordability Report by GLVR shows in May the median household income made up 98% of what is necessary to qualify for a median-priced home under prevailing interest rates. That number was down 8 points from the previous year.

“While the …