The number of homes sold increased in the Delaware Valley/Lehigh Valley region of New Jersey in December 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 December data, the Delaware Valley/Lehigh Valley region experienced an increase in the number of units sold compared to the same month in 2015. In Gloucester County, the number of homes sold rose by 25 percent, while Camden County saw an increase of 10 percent. Burlington County experienced a 7 percent increase in the number of homes sold, and in Mercer County the number of homes sold rose by 2 percent.

Median sale prices rose in most of the Delaware Valley/Lehigh Valley region in December, with Mercer County seeing a 7 percent increase compared to last year. Camden and Gloucester counties experienced a 3 percent increase, and Burlington County saw a 6 percent decrease.

Active inventory levels were low in the entire Delaware Valley/Lehigh Valley region in December compared to year-ago levels, with Mercer County seeing a 20 percent decrease. In Burlington County, active inventory declined by 18 percent, and in Camden County it fell by 15 percent. Gloucester County experienced a 9 percent drop in active inventory compared to last year.

The days on market (DOM) average remained steady in the region with homes selling in about three months or less on average. Camden County experienced a days on market (DOM) average of 79 days in December, followed by Mercer County with a DOM average of 80 days. In Burlington County, the DOM average was 82 days, and Gloucester County saw a DOM average of 96 days.

“The positive trends we’ve been seeing in the U.S. economy continued in December, and though the real estate market is in its typical winter slowdown we still saw some good things happening, including in the Delaware Valley/Lehigh Valley region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “We anticipate a strong 2017 real estate market where buyers will be able to take advantage of a number of factors like better FHA loan terms and mortgage rates ranging from 4-5 percent.”

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.