The number of homes sold increased in the Delaware Valley/Lehigh Valley region of New Jersey in April when compared to year-ago figures, according to The Long & Foster Market Minute reports. Median sale prices also improved in parts of the region, which includes Burlington, Camden, Gloucester and Mercer counties. 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 April data, the number of units sold increased in the Delaware Valley/Lehigh Valley region compared to April 2014. Camden County saw a jump of 17 percent, followed by Burlington County with a 16 percent increase. In Mercer County, the number of homes sold increased by 11 percent, while Gloucester County saw a 3 percent increase.

Median sale prices varied in the region last month, with Burlington County experiencing a 6 percent increase. Gloucester County also saw an increase in median sale price with a 2 percent boost. Mercer and Camden counties experienced decreases of 5 percent and 10 percent, respectively.

Active inventory levels remained low in the Delaware Valley/Lehigh Valley region in April compared to year-ago levels. Burlington, Camden and Gloucester counties each saw a 9 percent decrease in inventory, followed by Mercer County with a 1 percent decrease.

The days on market (DOM) average remained steady in the region with homes selling in about three months on average. Burlington County saw a days on market (DOM) average of 82 days, and Mercer County experienced a DOM of 88 days. Camden County experienced a DOM of 90 days and Gloucester County saw a DOM of 94 days.

“April showed us that there are some great things happening in the Mid-Atlantic and Northeast real estate market, including in the Delaware Valley/Lehigh Valley region where we saw an increased number of homes sold,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “The conditions of the real estate market in many areas of the country are providing excellent opportunities for both buyers and sellers, and we’re pleased to see a nice robust spring 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.