A healthy Lehigh Valley real estate market continues its resurgence, fueled by favorable economic conditions as closed sales of houses in the Lehigh Valley returned to a double-digit percentage increase in April.

According to figures released by the Greater Lehigh Valley Realtors (GLVR), closed sales were up 15.5 percent in April from 534 to 617.

This reversed a 4.6 percent decrease in sales in March after two straight months of double-digit percentage increases in January and February.

Closed sales increased for the first four months of 2016 by 14.8 percent with 2,091 houses sold, up from 1,822 for the first four months of 2015.

Pending sales of houses leaped 37.9 percent to 972 in April from 705 in April 2015, the GLVR reported.

As predicted by real estate experts at the beginning of the year, the Lehigh Valley’s real estate market is continuing the success of 2015 into 2016.

GLVR officials attributed the April increase to a vibrant economy, reasonable home prices and still near-historically-low financing.

“All the factors that contributed to 2015 being such a successful year are extending their run into the first third of 2016 just as all the industry experts predicted,” said GLVR CEO Justin Porembo.

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

“Mortgage rates remain low, unemployment has been close to five percent for eight straight months, and home prices are continuing to gain traction at a reasonable pace. Everything is in place for us to have a spectacular spring and summer, our prime time of the year,” Porembo said.

New listings increased 15.2 percent in April to 1,155 from 1,362 in April 2015.

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

The median sales price increased 3 percent in April to $170,000 from $165,000 in April 2015.

The average sales price decreased 2.7 percent in April to $197,078 from $202,482 in April 2015.

The percentage of list price received increased 0.4 percent in April to 97 percent from 96.6 percent in April 2015.

The affordability index decreased 5.7 percent for April, compared to April 2015.

Inventory decreased 32.4 percent to 3,133 in April from 4,634 in April 2015.

The months supply decreased 41.8 percent to 4.6 in April from 7.9 in April 2015.

Months supply and inventory numbers continue to be significantly down versus last year’s numbers.

“The only issue to watch cautiously continues to be volume,” said Chris Raad, GLVR President. “Compared to last year, there just aren’t as many homes for sale. But so far, there hasn’t been any harmful ripple effects due to the dip in inventory. All the other indicators remain robust and favorable for area homebuyers and sellers.”

The Carbon County data shows closed sales up 26.7 and new listings down just 2.2 percent. Percentage of list price received came in at 92.1 percent.

Closed sales of houses in the Lehigh Valley decreased 4.6 percent in March to 520, compared to 545 in March 2015

Closed sales of houses in the Lehigh Valley increased 23.8 percent in February to 437 from 353 in February 2015.

Closed sales of houses in the Lehigh Valley increased 14.4 percent in January to 445 from 389 in January 2015.

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