Long & Foster Market Minute, Market Data, Market Insight, Market Minute, Market ReportsThe number of homes sold increased in most of the Delaware Valley/Lehigh Valley region of New Jersey in October 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 October data, the number of units sold increased in the majority of the Delaware Valley/Lehigh Valley region compared to October 2014. Both Burlington and Gloucester counties saw increases of 9 percent, followed by Mercer County with an increase of 5 percent. In Camden County, the number of homes sold did not change year over year.

Median sale prices also increased in most of the Delaware Valley/Lehigh Valley region, with an increase of 9 percent in Gloucester County and an increase of 2 percent in Camden County compared to the same month last year. Burlington County experienced an increase of 1 percent, and in Mercer County the median sale price dropped by 13 percent.

Active inventory levels were low in the region in October compared to year-ago levels, with Mercer County seeing an 11 percent decrease and Camden County experiencing a 10 percent decrease. Both Burlington and Gloucester counties saw a 9 percent drop.

The days on market (DOM) average remained steady in the region with homes selling in less than three months on average. Mercer County saw a days on market (DOM) average of 76 days, and Burlington and Gloucester counties experienced a DOM of 86 days. Camden County had a DOM of 87 days.

“Consumer confidence increased once again in October and the labor market’s performing well ”“ both of which are good news for the economy,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “At Long & Foster, business remained steady, including in the Delaware Valley/Lehigh Valley region where we saw improvements in the number of homes sold. We predict to see continued stability in housing as 2015 comes to a close.”

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.