The number of homes sold increased in the Delaware Valley/Lehigh Valley region of New Jersey in February 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 February data, the number of units sold increased in the Delaware Valley/Lehigh Valley region compared to February 2015. In Burlington County, the number of homes sold rose by 27 percent, while Camden County saw an increase of 24 percent. Gloucester County experienced an 18 percent increase in the number of homes sold, followed by an 11 percent increase in Mercer County.

Median sale prices decreased in most of the Delaware Valley/Lehigh Valley region in February, though Gloucester County experienced a 1 percent increase. Camden and Burlington counties saw declines of 4 percent and 8 percent, respectively. The median sale price dropped by 13 percent in Mercer County compared to last year.

Active inventory levels were low in the region in February compared to year-ago levels, with both Burlington and Mercer counties seeing a 10 percent decrease and Camden County experiencing a 6 percent decrease. Gloucester County experienced a decrease of 4 percent.

The days on market (DOM) average remained steady in the region with homes selling in a little more than three months or less on average. Mercer County saw a days on market (DOM) average of 85 days, and Camden County experienced a DOM average of 90 days. In Burlington County, the days on market average was 95 days, while the DOM average was 110 days in Gloucester County.

“The United States economy saw positive growth in the number of jobs added in February, which is good news for the housing market,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “We also saw some favorable improvements happening within our market areas last month as well, including in the Delaware Valley/Lehigh Valley region. Though many places are feeling the squeeze of low inventory, we anticipate an upturn in the spring will help alleviate demand.”

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, Inc.