According to housing market data released by the Lehigh Valley Association of Realtors (LVAR), during the month of October 2014, closed sales increased 7.4 percent, to 635, compared to 591 in October 2013.

This marks a reversal of a nine-month negative trend in closed sales of houses in the Lehigh Valley.

Pending home sales increased 17.9 percent to 653, compared to 554 during the same month last year.

"The local housing market is showing continuing strength, as interest rates remain attractive and prices are stable," said Ryan Conrad, CEO of the LVAR.

New listings were recorded at 1,027, up 1.4 percent, compared to last year at the same time.

The number of days on the market until a property was sold averaged 69, a drop of 1.4 percent.

The median price, the point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, remains relatively the same at $169,950.

The average sales price was $190,112, approximately the same as last year, but down approximately 6.4 percent from 2012.

The month's supply of inventory decreased 2.6 percent to a 7.4 months' supply. Inventory of four to seven months is typically regarded as constituting a balanced real estate market. The number of properties available for sale at the end of October was 4,187.

The percent of list price received was 95.8 percent.

"As corporate earnings have been strong, and private job gains have exceeded expectations, we're looking at stability and healthy growth in the housing market," said Kim Lucas Mantz, President of the LVAR.

During September, closed sales of houses in the Lehigh Valley decreased 8.7 percent, 555, down from 608 in in September 2013.

Here is the tally for other months this year of closed sales of houses in the Lehigh Valley:

August: 7.3 percent decrease, 652, down from 703 in August 2013;

July: 10.6 percent decrease, 656, down from 734 in July 2013;

June: 9.3 percent decrease, 627, down from 691 in June 2013;

May: 7.9 percent decrease, 2,145, down from 2,328 in May 2013;

April: 11.3 percent decrease, 1,524, down from 1,719 in April 2013;

March: 15.2 percent decrease 407, down from 480 in March 2013;

February: 10 percent decrease, compared to February 2013; and

January; 3.1 percent decrease, compared to January 2013.

Closed sales of houses for 2013 were 15.5 percent higher than 2012 and 32 percent higher than in 2011.

Closed sales of houses data includes that for single-family homes, townhomes and condominiums.

The monthly housing data is collected by the LVAR from its Multiple Listing Service (MLS), a comprehensive and nonbiased database that includes housing market information from its more than 2,000 Realtor members.

LVAR is a not-for-profit trade association providing professional development and training resources, competitive market information, legislative advocacy, a peer review and mediation process for members, and a dispute resolution service for consumers.

LVAR owns and operates the Lehigh Valley Multiple Listing Service, the Lehigh Valley Real Estate Academy and is publisher of Lehigh Valley Real Estate Weekly.