2023 Residential Review: Lehigh County

Residential Market splits

1/2/20241 min read

Lehigh County 2023 Selling Prices

Data from Greater Lehigh Valley Realtors as of December 31, 2023

The below chart created in-house from Greater Lehigh Valley Realtors Multiple Listing Service (MLS) compares the quarterly statistics for Residential sales during 2023 along with the last quarter of 2022.

The real estate market reached its peak in the summer of 2023, with 75% of homes sold experiencing this high point. However, the final quarter of 2023 saw a notable decline, with 168 fewer sales—a drop of 18.7% compared to the same period in 2022. Interestingly, the top 25% of the market maintained its upward price trend without showing signs of cooling off.

While the majority of potential homebuyers received encouraging news of stabilized average prices in the latter half of 2023, homeowners in the higher price range continued to witness appreciation in their property values.

The detailed chart provided includes additional information not commonly reported, revealing significant differences between the average and median selling prices. This variance is primarily due to a few extremely high-priced sales that have impacted the overall figures.