The number of homes sold increased in the Delaware Valley/Lehigh Valley region of New Jersey in September 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 September data, the number of units sold increased in the Delaware Valley/Lehigh Valley region compared to September 2014. Gloucester County saw a jump of 37 percent, followed by Burlington County with a 19 percent increase. In Camden County, the number of homes sold increased by 15 percent, while Mercer County saw a 4 percent increase.
Median sale prices varied in the Delaware Valley/Lehigh Valley region, with an increase of 11 percent in Mercer County and an increase of 10 percent in Burlington County compared to the same month last year. Gloucester and Camden counties saw declines of 2 percent and 4 percent, respectively.
Active inventory levels were low in the region in September compared to year-ago levels, with Camden County seeing a 12 percent decrease and both Burlington and Gloucester counties experiencing a 10 percent drop. Mercer County saw active inventory decline by 9 percent.
The days on market (DOM) average remained steady in the region with homes selling in less than three months on average. Gloucester County saw a days on market (DOM) average of 79 days, and Burlington County experienced a DOM of 83 days. Both Camden and Mercer counties experienced a DOM of 84 days.
“Though many are still concerned for economic growth in China, The United States economy is continuing to grow and the job market is steadily improving. The stability in the U.S. was also reflected in the real estate market, including locally,” said Jeffrey S. Detwiler, president and chief operating officer of The Long & Foster Companies. “In the Delaware Valley/Lehigh Valley region, we continued to see improvements in the number of homes that were sold, and we anticipate a healthy last few months of 2015.”
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.