Lehigh Valley Again Ranks Among Nation’s Hottest ZIP Codes
By Colin McEvoy on August 17, 2022
For the second straight year, the Lehigh Valley is the home to one of the hottest ZIP codes in the nation.
The list was compiled after Realtor.com’s analytics team analyzed data on 29,000 ZIP codes in the country to find the spots where homes sell the fastest, and are getting the most views on Realtor.com, according to Danielle Hale, the site’s chief economist.
“These hottest ZIPs are relatively affordable and generally less than a few hours from some of the biggest high-paying cities, making them ideal for remote and hybrid workers,” Hale said. “In fact, one thing the top-ranked ZIPs have in common is they’re attracting homebuyers from major East Coast markets like Boston, New York, and Washington, D.C.
Bethlehem ranked in last year’s Hottest ZIP Codes list as well, with its 18018 code ranking No. 12 in the nation. The Lehigh Valley fared even better this year, with 18017 cracking the Top 10.
Visit here to see this year’s Top 10 list. The 18017 ZIP code includes much of north Bethlehem, as well as Freemansburg and portions of East Allen Township and Hanover Township, Northampton County.
Houses within that ZIP code have a median listing price of $424,000, are usually on the market for about eight days, and are viewed on Realtor.com’s website 3.7 times more often than the U.S. average, according to the website.
“With a rich colonial history, tons of outdoor activities, and a thriving good, cultural, and arts scene, this Lehigh Valley city has something for everyone,” the Realtor.com list says of Bethlehem.
The report reinforces and amplifies the Lehigh Valley’s reputation as a desirable place to live and the highly competitive housing market that has developed in the region, said George Lewis, Vice President of Marketing, Communications and Research at Lehigh Valley Economic Development Corporation (LVEDC).
“The Lehigh Valley’s housing market is on the national radar because of the region’s strong economy, beautiful neighborhoods and vibrant cultural and recreational opportunities,” Lewis said. “Quality of life is key in our efforts to attract and retain companies.”
A strong quality of life draws talent – professionals and skilled workers that companies need to succeed. Access to talent is a key factor in company decisions on where to move or expand, prompting LVEDC to partner with other community organizations , including the Greater Lehigh Valley Realtors, in the Made Possible in Lehigh Valley campaign.
“Ranking among the hottest real estate markets in the country also speaks to the Lehigh Valley’s strength as a location for remote work,” said Lewis, who also pointed out that the region ranked highly in a recent study of the best places in the country to live for remote workers.
Realtor.com’s Hottest ZIP Code rankings take into account two aspects of the housing market: market demand, as measured by unique viewers per property on realtor.com, and the pace of the market as measured by the number of days a listing remains active on realtor.com.
“The hottest areas are those that have high demand from buyers, in other words, lots of unique viewers per each property listed for sale, and fast-selling homes, an indicator of limited supply,” Hale said.
The ZIP codes on this list had between 2.7 and 4.6 times the number of viewers per property, on average, compared to what was typical in the U.S. for the first half of the year, Halke said. This demand fueled the fast pace of sales, with homes spending 20 to 26 fewer days on market than the typical U.S. home.
Eight of the 10 hottest ZIP codes are in the Northeast, and the Lehigh Valley was the only Pennsylvania region to make the cut. The Midwest and South each have one zip on the list, while the Western region is not represented in this year’s list as affordability concerns have pushed buyer interest elsewhere, Hale said.
“For a third year, East Coast markets top the list,” she said.
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