The residential real estate market in the Delaware Valley/Lehigh Valley region of New Jersey experienced some positive trends compared to July of last year, according to The Long & Foster Market Minutereports. Inventory remained low, and homes continued to sell at a solid pace.

The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

Median sale prices decreased in much of the region compared to the same month in 2013, though Mercer County experienced an increase of 6 percent. Median sale prices declined by 1 percent in Gloucester County and by 3 percent in Camden County. Burlington County saw a decrease of 4 percent.

According to July data, the number of units sold decreased in most areas of the Delaware Valley/Lehigh Valley region compared to July 2013. Gloucester County saw an increase of 15 percent. Other areas experienced drops of 3 percent to 5 percent.

Active inventory levels remained low in the Delaware Valley/Lehigh Valley region in July compared to year-ago levels. Camden County saw a 7 percent decrease, while Gloucester County saw a 6 percent drop. Both Burlington and Mercer counties experienced 4 percent increases.

The days on market (DOM) average remained steady in the region with homes selling in about two to three months on average. Mercer County saw a days on market (DOM) average of 61 days, while Burlington and Camden counties experienced DOMs of 70 days. Gloucester County had a DOM average of 88 days.

“Throughout this summer the real estate market has stabilized and in many regions inventory is up, meaning more homes for buyers to choose from,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Meanwhile, sellers are continuing to benefit from speedy transactions, with our data showing days on market averages of three months or fewer in nearly all parts of the Mid-Atlantic. Overall, the market is well positioned for future growth.”

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 users can subscribe to free updates for the reports in which they’re interested.