Should individuals and families live in towns with smaller increases or slight decreases worry? No, according to Tim Tepes, president of the Greater Lehigh Valley REALTORS® and co-owner of Assist 2 Sell Buyers & Sellers Realty in Northampton Borough. Plainfield Township, which is similar to Lowhill Township, is rural with its open land and older farms. The small increase in median value in both townships is mainly due to the lack of any major subdivisions or newer construction projects. Upper Nazareth completed its major subdivision, Eagles Landing, about two to three years ago, Tepes said. "Prices were booming, and then things leveled off as the homes were sold and the project ended," Tepes said of Upper Nazareth.
Borough and the townships of East Allen, Palmer, and Forks all have significant development projects in the pipeline or have growth paths already created by the Route 33, Route 22, and Interstate 78 corridors. “New housing developments and commercial opportunities are plentiful, and they're coming," Tepes said. As we head into the next decade, we may wonder: Will bidding wars continue? Will home prices stay elevated? Will home buyer demand remain strong? Well, we’ll see. COVID-19 remains a wild card for the housing market. That said, as we head into the current fall season, economists are optimistic about the market’s direction considering its unpredictability since the beginning of the pandemic.
Tepes believes the township’s age 55-and-over cottage community, Heritage Village by Morningstar Senior Living Inc., might be playing a role in the overall decreased median value data. That project was completed in Upper Nazareth about two years ago.
For the most part, they agree there won’t be a return to the usual slowing pace of sales in the fall – nor will prices slide to the extent typical of the season as families settle into a new school year.
"The housing options costs were not nearly as high as the larger, single-family development of Eagles Landing," Tepes said. “The subdivision completion and lighter prices in the 55-plus community made it appear as though prices in Upper Nazareth had decreased, but the overall health of the community is clear and remains.”
Numbers and data and statistics making your head spin? With years of bargaining experience and expert understanding of the market, REALTORS® can help you close the deal at the price and terms you want. Not to mention, homeowners who sell their homes on their own typically generate $24,400 less than homeowners who work with a REALTOR®.
Tepes expects notoriously “sleepy areas,” such as Wind Gap in the Slate Belt, to start waking up with land available to build on. And, Tepes notes, many towns such as North Catasauqua
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