The entire Philadelphia real estate market experienced an increase in the number of homes sold in October, according to The Long & Foster Market Minute reports. The greater Philadelphia real estate market, includes Bucks, Chester, Delaware, Montgomery and Philadelphia counties.

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

When compared to October 2013, the entire Philadelphia region experienced an increase in the number of homes sold. Bucks County lead the way with a 13 percent jump in homes sold, followed by Philadelphia County with an 8 percent increase. Chester County saw a 4 percent increase, and Delaware County experienced a 2 percent increase. Montgomery County saw the number of homes sold rise by 1 percent.

A few counties in the Philadelphia region enjoyed rising median sale prices in October compared to the same month in 2013. Both Bucks and Philadelphia counties saw an increase of 4 percent. Other areas of the region experienced decreases of 3 percent to 5 percent.

Levels of active inventory varied throughout the region in October. Philadelphia County experienced a 3 percent decline, while Delaware County saw a 2 percent decrease. Inventory increased by 1 percent in Chester County and by 7 percent in both Bucks and Montgomery counties.

Homes are continuing to sell at a steady pace, with many selling in three months or less on average. According to October data, the days on market (DOM) average was 70 days in both Chester and Philadelphia counties, followed closely by Montgomery County with a DOM average of 73 days. Delaware County had a DOM of 76 days, and Bucks County had a DOM average of 82 days.

“October brought modest improvements to the Mid-Atlantic real estate market, including in the Philadelphia region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “In many areas we saw increases in the number of homes being sold, as well as some positive trends in the number of days homes spent on the market. These are welcome signs for real estate in the region, and with continued improvements being made in the economy, we expect a smooth end to 2014.”

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.