Closed sales in the Lehigh Valley housing market increased 12.9 percent from August 2012 to August 2013, according to the Lehigh Valley Association of Realtors (LVAR).

Closed sales year-to-date rose from 3,882 to 4,381.

Pending home sales increased 24 percent from August 2012 to August 2013, rising from 579 to 718. Year-to-date comparisons over last year at the same time report an increase in pending home sales of 16.9 percent.

Pending sales indicate a count of the properties on which offers have been accepted, but the transaction has not yet been closed.

"We have a positive outlook on the Lehigh Valley housing market as year-to-date," says Ryan Conrad, CEO of LVAR.

Year-to-date comparison research indicates that homes sold more quickly as the number of days on the market decreased 16.5 percent to 67 days.

"The positive indicators are the basis we use in forecasting the future of the Lehigh Valley housing market," adds Conrad.

The median sales price in August 2013 was recorded at $185,950, up 6.3 percent over August 2012.

The average sales price rose 2.6 percent to $206,447.

Absorption rates improved as the months supply of inventory was down 19 percent to 6.8 months. Inventory of approximately four to seven months is typically regarded as constituting a balanced real estate market.

"The positive outlook on the housing market has created a renewed interest in real estate as a career," says Therese Kelley, President of LVAR.

"LVAR is providing a service to the community by offering pre-licensing courses at our Lehigh Valley Real Estate Academy in Bethlehem.

"We've discovered that people interested in real estate already have hectic schedules so we're offering classes on Saturdays beginning in October."

LVAR's data is collected through its Multiple Listing Service (MLS) and analyzed to provide timely and accurate statistics.

The monthly release of research to its members, the media, and the general public has established LVAR as the premier source of real estate information in the Lehigh Valley.

Information: LVAR.org