The residential real estate market in the Delaware Valley/Lehigh Valley region of New Jersey experienced some positive trends compared to February of last year, according to The Long & Foster Market Minute reports. In February, median sale prices increased in much of the region, while the number of units sold remained fairly steady in most areas.

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

According to February data, median sale price increased in much of the Delaware Valley/Lehigh Valley region. Gloucester County experienced a 13 percent increase, while Burlington County saw a 6 percent increase. Mercer County saw a 1 percent increase in median sale price, and Camden County saw the only decrease at 1 percent.

Inventory continued to decline in the entire Delaware Valley/Lehigh Valley region in February. Mercer County experienced a 17 percent decline in inventory, while Camden County experienced a 15 percent decline. Burlington County experienced a 7 percent decrease in active inventory compared to February of last year, and Gloucester County saw a 6 percent decrease.

The number of homes sold varied throughout area in the month of February compared to the year before. Mercer County experienced a 1 percent increase in the number of units sold, and Camden County saw no change. Burlington County experienced a 1 percent decrease, while Gloucester County saw a 30 percent decrease in the number of units sold.

Homes in the region are selling in about three to four months on average. Mercer County had the lowest days on market (DOM) with an average of 93 days, while Camden County saw a DOM of 98 days. Gloucester County experienced a DOM of 106 days, while Burlington County’s DOM was 107 days.

“February continued in much of the same pattern as January as a result of the continued winter weather, but we’re seeing more positive trends happening in the real estate market, including in the Delaware Valley/Lehigh Valley region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Many areas have been enjoying increases in the median sale price and speedy home sales, and going into spring, we anticipate a stronger and more vibrant 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 users can subscribe to free updates for the reports in which they’re interested.