Active inventory declined in the Delaware Valley/Lehigh Valley region of New Jersey in July 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.

Active inventory levels were low in the Delaware Valley/Lehigh Valley region in July compared to year-ago levels, with Burlington County seeing a 18 percent decrease. In Mercer County, active inventory declined by 13 percent, and it fell by 11 percent in Gloucester County. Camden County experienced a 9 percent decline in active inventory.

Median sale prices varied in the Delaware Valley/Lehigh Valley region in July, with Gloucester County seeing a 14 percent increase compared to last year. Camden County experienced no year-over-year change, and in Mercer County the median sale price dropped by 3 percent. In Burlington County, the median sale price declined by 4 percent.

According to July data, the number of units sold decreased in much of the Delaware Valley/Lehigh Valley region compared to July 2015. In Camden County, the number of homes sold rose by 1 percent, while Mercer County saw a decrease of 2 percent. Gloucester County experienced a 4 percent decrease in the number of homes sold, followed by Burlington County with a 9 percent decrease.

The days on market (DOM) average remained steady in the region with homes selling in about two and half months or less on average. Both Burlington and Mercer counties saw a days on market (DOM) average of 63 days, and Camden County experienced a DOM average of 72 days. In Gloucester County, the days on market average was 78 days.

“July brought both good and not-so-good news to the U.S. economy, with the job market remaining strong and retail sales staying flat for the month. Similarly in real estate, home sales slowed in many areas, while median sale prices increased, including in parts of the Delaware Valley/Lehigh Valley region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “As the summer comes to a close, we anticipate that the housing market will remain healthy heading into the autumn season.”

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.