December 2024 Market Statistics

Greater Lehigh Valley (GLVR)

The Greater Lehigh Valley real estate market saw notable year-over-year growth in December 2024. The median sold price climbed 10% to $329,900 compared to December 2023. Homes sold increased slightly, up 0.2% to 509 units. Active listings also experienced growth, rising by 4% to 604. However, homes spent more time on the market, with the average days on market (DOM) increasing 14.3% to 24 days. The list-to-sold price ratio slightly declined, down 0.4% to 100.1%, indicating a small reduction in seller pricing advantage.

Cape May, NJ

In Cape May, market activity saw significant month-over-month shifts. The median sold price rose 10.02% to $719,000. However, homes sold decreased 19.4% to 25, and active listings dropped 22% to just 64 properties. The average DOM improved notably, decreasing by 27.08% to 35 days, suggesting faster home sales. The list-to-sold price ratio saw a positive uptick, increasing by 1.11% to 96.4%.

Ocean County, NJ

Ocean County experienced mixed month-over-month results. The median sold price dipped slightly by 0.64% to $466,000, while homes sold declined 1.1% to 787. Active listings saw a sharp decrease, plummeting 80.1% to 1,656. Homes took longer to sell, with the average DOM rising 13.79% to 33 days. The list-to-sold price ratio also fell slightly, down 0.55% to 98.9%.

Atlantic County, NJ

Atlantic County saw stable pricing with a minor month-over-month decrease in the median sold price, down 0.14% to $359,000. Homes sold rose by 10.2% to 280, showcasing strong buyer activity. Active listings decreased by 6.2% to 948, and the average DOM increased significantly by 31.82% to 29 days. The list-to-sold price ratio declined 1.6% to 97.7%, reflecting a softening in seller pricing power.

Bucks County, PA

In December 2024, Bucks County reported a 19.6% increase in inventory, rising to 697 listings from 583 in December 2023. However, sold units declined by 6.4%, with 452 homes sold compared to 483 the previous year. The median sold price grew slightly by 0.5% to $457,500, up from $455,000. The average days on market increased by 1 day to 27, and the list-to-sold price ratio declined to 96.0% from 97.4%, reflecting a weakening seller advantage.

Montgomery County, PA

Montgomery County saw positive trends year-over-year. Inventory increased by 4% to 953 active listings compared to 916 in December 2023. Sold units rose significantly by 10.0%, with 668 homes sold versus 607 last year. The median sold price jumped 8.4% to $450,000 from $415,000. The average DOM increased slightly by 3 days to 31, and the list-to-sold price ratio remained steady at 96.8%.

Chester County, PA

Chester County experienced a strong year-over-year performance. Inventory rose by 18.9%, reaching 658 active listings compared to 553 in December 2023. Sold units increased 17.2%, with 437 homes sold versus 373 the prior year. The median sold price rose by 4.6% to $518,000 from $495,000. The average DOM decreased by 1 day to 25, but the list-to-sold price ratio declined to 97.6% from 99.4%.

Mercer County, NJ

Mercer County showed mixed results. Inventory increased by 24.5% to 503 listings from 404 in December 2023. Sold units rose slightly by 0.7%, with 273 homes sold compared to 271. The median sold price jumped 9.8% to $450,000 from $410,000. The average DOM remained unchanged at 31 days, while the list-to-sold price ratio increased to 100.4% from 99.5%.

Berks County, PA

Berks County had modest growth in several areas. Inventory rose 5.4% to 373 listings from 354 in December 2023. Sold units declined by 7.4%, with 313 homes sold compared to 338 last year. The median sold price increased by 10.8% to $280,000 from $252,800. The average DOM rose by 2 days to 24, and the list-to-sold price ratio fell slightly to 100.0% from 100.9%.

Northeast Philadelphia (NEPHL)

Northeast Philadelphia reported notable inventory growth, with active listings up 12.9% to 438 compared to 388 in December 2023. Sold units decreased by 14.2%, with 250 homes sold versus 219 last year. The median sold price rose 10.4% to $287,000 from $260,000. The average DOM decreased by 2 days to 32, while the list-to-sold price ratio dipped to 96.6% from 97.4%.

Summary

December 2024 showcased a dynamic real estate landscape across the Greater Lehigh Valley and neighboring markets. While inventory and pricing trends suggest growth and stability in some areas, declining sales and extended DOM in others highlight the need for strategic market navigation. Buyers and sellers should remain attentive to local conditions as 2025 unfolds.

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