What is the projected annual price change for real estate in the Bethlehem, PA / Lehigh Valley, PA area over the next 5 years?

Asked by Djhofmeister, Bethlehem, PA Tue Feb 22, 2011

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5
Phil Osborne, , Bethlehem, PA
Tue Feb 22, 2011
Hello DJ, great question. Here are my projections for the next 5yrs for the Lehigh Valley. However Bethlehem has done quite well considering other markets. Real Estate is VERY local even down to the neighborhood you are in. If you have a home to sell-sell it and buy now if possible. You may take a hit on your current home but you will win big on the purchase at these discounted prices and low interest rates. Foreclosures are increasing dramatically, just in the past 30 days 145 new short sales or foreclosures have come on the market. These foreclosures will increase inventory and supply levels and prices will drop. However I do see demand picking up in the coming months and years. For more information about the local real estate market and lists of homes for sale please visit my website at http://lehighvalleyhomes.tv . I would love to answer any other questions you may have. You can call me at 610-295-5822. Have a great day!

2011 -5-7%
2012 -2-3%
2013 -flat-+2
2014 +3
2015 +3-5%
Web Reference:  http://lehighvalleyhomes.tv
1 vote
barbara frau…, Agent, Bethlehem, PA
Tue Feb 22, 2011
Real Estate is local and in Bethlehem it is even more local. I have been an agent in Bethlehem since 1988 and some areas have risen [and fallen] more than others while some have risen but not dropped as much. Our office has just completed a pretty tough analysis for our clients ....we don't have a crystal ball but we do have some good stats!
As a generality....I don't see a rise yet and I do see some areas holding while surplus inventory has resulted in still lower prices in some suburbs. So while your question is a good one there is no good answer. Interview and choose an experienced agent, pay attention, ask questions and compare areas.
Good luck!
0 votes
Peter Ryan, Agent, Center Valley, PA
Tue Feb 22, 2011
This is a purely subjective answer, but I have done a considerable amount of work in Bethlehem, and so do have an "ear to the ground". Though as we've seen, as the first answer states, some variations in pricing, I expect a very mild appreciation in the area, in the range of an average 1-3% increase annually. My view is based on the fundamental soundness of the local economy as well as the historic stability of Bethlehem. The city bounced back from the steel age, new companies continue to express interest in the area, the education and health systems are excellent. All these factors should contribute to some stability as we move forward. Finally, as my father told me after college graduation when I embarked on my corporate road (prior to real estate). "Always remember, the Lehigh Valley is the goegraphic center of the Northeast". he was right. Location, Location, Location.....
0 votes
Mark Gallagh…, , Bethlehem, PA
Tue Feb 22, 2011
No one can answer this question without making guesses. The bottom line is that the supply will have to equal the demand in order for the market to come back to equilibrium. Right now, there are more homes for sale than there are buyers. Until there are enough buyers to match the sellers, the market will remain flat and/or less than flat.
0 votes
, ,
Tue Feb 22, 2011
Hello DJhofmesiter,

If we all knew what the future holds, life would be no fun now would it :-)
I think in general property values will decline slightly (10-15%) over the next 2-3 years and then bounce along the bottom for another 3-4 years
There may be local and regional variations. Having said all that, you can always make money if you buy at the right price.

Good luck

Best Regards,
Alan Openshaw
Cornerstone Lending Inc
720 Second St Pike Suite 104
Southampton Pa 18966
Office 215 953 0800
Fax 215 953 1706
Cell 267 992 7276
Voted Best of Bucks 2010
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