Data released by the Lehigh Valley Association of Realtors (LVAR), indicates year-to-date sales are recorded at 4,805, up 16 percent over 2011 year-to-date sales of 4,160.

Year-to-date pending sales, which indicate transactions in process that have not yet closed, reached 5,632, up 34 percent from last year at the same time when pending sales were 3,670.

"Sixteen consecutive months of increases in home sales and pending home sales over the same time the previous year are not only a positive trend, but an indicator that the local housing market is improving," said Ryan Conrad, CEO of LVAR.

October 2012 to 2011 comparisons continue to prove that there has been steady growth in the local housing market, according to LVAR.

The number of sales has increased 18.1 percent, with 451 sales reported in October 2012 as compared to 382 during the same month last year. The average sales price of $203,000 indicates an increase of 12.2 percent from $181,000 recorded in October 2011. The average sales price is obtained by dividing the number of sales into the total sales dollars.

"Year-to-date figures show a 10 percent decrease in the amount of time a home is on the market before it is sold," said Andrea Decker, President of LVAR.

"In 2012, homes were on the market an average of 83 days, compared to 92 days at the same time last year. This is great news for those selling homes," Decker said.

The October 2012 home sales of 451 was a 3.6 percent decrease from September 2012 data of 468 homes sold.

"The year-to-date increases in home sales and pending home sales give the best summary of the housing market as there are expected small fluctuations in the numbers on a month to month basis," Conrad said.

"As the lead source for real estate industry information in the Lehigh Valley, LVAR's research is based on data compiled from our members who report transactions through our Multiple Listing Service. The data is then analyzed based on archived information from previous years," said Conrad.

Monthly statistics are based on figures generated by the Lehigh Valley Association of Realtors Multiple Listing Service. Average sales and median prices fluctuate monthly depending on the number of sales at the high or low end of the price range. The year-to-date numbers generally remain more constant.