Closed sales of houses in the Lehigh Valley started out the new year at a brisk pace, reversing a three-month downward trend that closed out 2015.

Closed sales of houses in the Lehigh Valley increased by double digits, up 14.4 percent in January to 445 from 389 in January 2015, according to statistics provided by the Greater Lehigh Valley Realtors (GLVR).

“The economy is strong and January is usually a time of optimism. We’re expecting a good year in real estate, with controlled, steady growth,” said Justin Porembo, CEO of the Greater Lehigh Valley Realtors.

Closed sales of houses in the Lehigh Valley had concluded out the year 2015 with the third straight month of decreased sales.

Closed sales were down 5.3 percent in December to 595 from 628 in December 2014. The decrease was larger than the November decrease of 0.2 percent and the October decrease of 0.3 percent.

However, for the year 2015, closed sales were up 11.4 percent to 7,345 from 6,592 for the year 2014.

Pending sales increased 11.4 percent in January to 559 from 502 in January 2015.

Days on the market decreased 6.8 percent in January to 69 from 74 in January 2015.

The months supply decreased 38.2 percent in January to 4.7 months from 7.6 months in January 2015. Inventory of four to seven months is regarded as constituting a balanced real estate market.

Inventory decreased 29.4 percent in January to 3,053 from 4,323 in January 2015.

New listings decreased 11.3 percent in January to 770 from 868 in January 2015.

The average sales price increased 11.1 percent in January to $195,642 from $176,052 in January 2015.

The median sales price increased 15.1 percent in January to $172,599 from $150,000 in January 2015.

The percentage of list price received increased 1 percent in January to 96.6 percent from 95.5 percent in January 2015.

The affordability index decreased 15.2 percent.

“The Lehigh Valley real estate housing market remains active with observed activity for nearly all price levels and styles, but particularly favoring the better condition properties,” said Chris Raad, 2016 Past President of the Greater Lehigh Valley Realtors.

According to Carbon County data for January provided by the Greater Lehigh Valley Realtors, new listings were up 36.4 percent, average sales price is up 11.3 percent to $125,349 and the months supply of inventory remained steady at 106 days on market.

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

The GLVR 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.

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

Information: GreaterLehighValleyRealtors.com