The number of homes sold increased in the Delaware Valley/Lehigh Valley region of New Jersey in March 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 March 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 28 percent, while Camden County saw an increase of 23 percent. Mercer County experienced an 18 percent increase in the number of homes sold, and in Burlington County the number of homes sold increased by 8 percent.

Median sale prices increased throughout the Delaware Valley/Lehigh Valley region in March as well, with Mercer County seeing a 12 percent increase compared to last year. In Burlington and Gloucester counties, the median sale price increased by 5 percent and 4 percent, respectively, while it increased by 1 percent in Camden County.

Active inventory levels fell in the entire Delaware Valley/Lehigh Valley region in March compared to year-ago levels, with Mercer County seeing a 20 percent decrease. In Camden County, active inventory decreased by 18 percent, while in Burlington County it decreased by 16 percent. In Gloucester County, active inventory declined by 12 percent.

The days on market (DOM) average remained steady in the region with homes selling in about three months on average. Mercer County experienced a days on market (DOM) average of 76 days in March, followed by Camden County with a DOM average of 77 days. In Burlington County, the DOM average was 84 days, and in Gloucester County the DOM average was 87 days.

“March was a great month at Long & Foster and we saw numerous positive indicators of growth in the real estate market, including in the Delaware Valley/Lehigh Valley region where home sales and sale prices both increased,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “With spring in full swing and mortgage rates remaining low, more people are looking to buy and sell homes. We anticipate the season will continue to bring robust activity to the housing 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.