The number of homes sold increased in most parts of the Delaware Valley/Lehigh Valley region of New Jersey in January when compared to year-ago figures, according to The Long & Foster Market Minute reports. The region includes Burlington, Camden, Gloucester and Mercer counties. The Long & Foster Market Minute reports are based on data provided by TREND multiple listing service and its member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

According to January data, the Delaware Valley/Lehigh Valley region experienced an increase in the number of units sold compared to the same month in 2016. In Gloucester County, the number of homes sold rose by 19 percent, while Camden County saw an increase of 15 percent. Burlington County experienced a 5 percent increase in the number of homes sold, and in Mercer County the number of homes sold fell by 1 percent.

Median sale prices decreased in most of the Delaware Valley/Lehigh Valley region in January, with Burlington County seeing a 3 percent increase compared to last year. In Camden and Gloucester counties, the median sale price fell by 4 percent and 9 percent, respectively, while it decreased by 15 percent in Mercer County.

Active inventory levels decreased in the entire Delaware Valley/Lehigh Valley region in January compared to year-ago levels, with Mercer County seeing a 20 percent decrease. In both Burlington and Camden counties, active inventory declined by 16 percent, and in Gloucester County it fell by 11 percent.

The days on market (DOM) average remained steady in the region with homes selling in about three months on average. Camden County experienced a days on market (DOM) average of 88 days in January, followed by Mercer County with a DOM average of 89 days. In Gloucester County, the DOM average was 90 days, and Burlington County saw a DOM average of 93 days.

“Though we’re still in the real estate market’s slow winter season, the United States economy continued to see improvements in January, and we saw positive trends happening in housing too, including in the Delaware Valley/Lehigh Valley region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Low inventory continues to cause frustration for many, but is helping to push up sale prices for those selling homes. We’re looking forward to a healthy spring market.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.    Information included in this report is based on data supplied by TREND, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TREND or Long & Foster Real Estate.