The Greater Lehigh Valley Realtors has released its report on the 2021 local housing market.

Highlights of the report for Lehigh and Northampton counties include:

Sales:

Pending sales increased 5.0 percent, finishing 2021 at 8,834. Closed sales were up 6.0 percent to end the year at 8,672.

Listings:

Comparing 2021 to the prior year, 2020, the number of homes available for sale was lower 39.5 percent.

There were 456 active listings at the end of 2021. New listings increased by 5.0 percent to finish the year at 9,984.

List price received:

Sellers received, on average, 101.6 percent of their original list price at sale. Year-over-year original list price increased 2.3 percent.

Distressed houses:

Forbearance efforts by the government and lenders continued for much of the year, limiting distressed sales activity once again.

In 2021, the percentage of closed sales that were either foreclosure or short sale decreased by 11.1 percent to finish the year at 0.3 percent of the market.

Foreclosure and short sale activity may increase in 2022, though the strong gains in equity seen by most homeowners in the last few years will help to limit the number of distressed sales.

Prices:

Home prices were up in 2021 compared to 2020. The overall median sales price increased 13.2 percent to $259,225 for the year.

Single Family home prices were up 14.2 percent compared to last year.

Townhouse-Condo home prices were up 10.1 percent.

Carbon County:

Closed sales were down 5.2 percent to 835. There were 961 new listings, and the year closed with 86 active listings.

Percent of list price received at sale for 2021 was, on average, 98.5 percent. The overall median sales price increased 21.9 percent to $195,000.

Looking ahead:

The 2021 housing market was once again strong locally and nationally.

Inventory shortages and high buyer demand continued to push home prices higher, with multiple offers on a limited number of homes the common theme in most market segments.

Familiar trends will keep pushing home prices higher still. As mortgage rates are likely to continue to rise over the year, housing affordability will remain an important factor to watch.

To see the report: www.greaterlehighvalleyrealtors.com