Realtor Elizabeth Tersigni is living in the moment, as sales of million-dollar plus homes in the Lehigh Valley hit an annual high that has not been seen in more than five years.
Realtor Elizabeth Tersigni is living in the moment, as sales of million-dollar plus homes in the Lehigh Valley hit an annual high that has not been seen in more than five years.
“It is incredible just how fast high-end homes are selling,” said Tersigni of Berkshire Hathaway Home Services, Fox & Roach Realtors in Bethlehem. “The interest rates are good, but, honestly, it is the increase in businesses moving into the Lehigh Valley that has people saying, ‘We want to move to the area, so find us a home.’ ”
Tersigni is one of the Realtors basking in the renewal of luxury home sales in the Lehigh Valley.
For her, million-dollar plus homes are selling so well that, in some cases, the properties have only been on the market for days. Several times this past year, they hadn’t even settled on an asking price before the home was scooped up by new residents.
She acknowledged that homes selling the best are older estates, many 50 years or older. Upon review of recent million-dollar plus sales in the area, Tersigni found homes that sold within days of being on the market, some for $1 million, some for $2 million or more.
“Buyers are just waiting for these homes in the Lehigh Valley, something that we haven’t seen since before 2008,” she said. “New construction is also moving fast and coming back strong.”
The Saucon Valley area is one territory that is popular for upscale buyers and, specifically, a good chunk of western Lehigh County and Upper Bucks County.
“I do not talk about who my clients are, but in New York, for instance, housing is so expensive, and in New Jersey the taxes are so much higher, all of which makes Lehigh Valley more attractive,” Tersigni said.
According to a recent report by the National Association of Realtors, the number of homes sold nationally for $1 million or more climbed by 8 percent in 2014.
While sales appear to be soaring in the Lehigh Valley and beyond, the $1 million dollar or more market in Berks County does not seem to be as busy.
