Revitalized Allentown Downtown District Has Brought New Homebuyers Seeking Suburban/Urban Mix to Lehigh and Northampton Counties
The Lehigh Valley housing market is on the rise with sales velocity expected to remain high throughout the summer and into the busy fall selling period, according to a prominent local real estate brokerage. Recent data cited by Coldwell Banker Heritage Real Estate shows new listings have increased 4.3% to 1,251 and pending sales have risen 21.9% to 958, as provided by the local MLS, Greater Lehigh Valley Realtors, two prime indicators of a healthy real estate landscape.
A considerable factor in the growing popularity of Lehigh Valley has been the revitalization effort underway in the City of Allentown, which has fast become the region’s premier retail, shopping and entertainment hub. The City’s story of rebirth has unquestionably filtered to its immediate suburbs and created a living environment desired by today’s homebuyers as evident in recent sales numbers. In fact, the statistics indicated inventory levels in the Lehigh Valley shrank 40.5% as homes are being quickly absorbed in Lehigh and Northampton Counties.
“A large number of our homebuyers want all that comes with a suburban home and lifestyle, but still want quick access to a City environment with shops, services, community events, culture and more,” says Nick Hollenbeck, Director of Sales and Marketing for Sterling Properties, which is developing the Sterling Estates single-family neighborhood in Lower Nazareth, less than 30 minutes to Allentown and under 20 minutes to Bethlehem and Easton. “
“The Lehigh Valley mixes downtowns such as Allentown, and restaurant and entertainment centers in Bethlehem and Easton, with idyllic, country-like residential suburbs to provide just that.” Continue reading