Are you wondering what the spring real estate market has been doing?
This snapshot analysis of the home sale market activity is designed to help both sellers and buyers in our area.
For Sellers, it should help you determine a listing price of your home if you are thinking of selling anytime soon.
For Buyers, it can benefit you to know what is a realistic offer on a home here in the Lansdale area.
These statistics are for homes in Towamencin Township, Hatfield Township and Montgomery Township, based on 3 to 4 bedroom, single family homes that sold between $300,000. and $400,000. during the last 3 months. Let’s examine the results.
In Towamencin Township, there were 9 homes sold and only one listing that expired (did not sell). The average number of days the home was on the market for these 9 homes was 31 days. When looking at the median sold price, in relation to the price of the home when it first came on the market,(this measurement includes any price reductions if there was one), the sellers are receiving 95% of their asking price.
In Montgomery Township, there were 7 homes sold, and none that expired (or did not sell). Here, the average number of days on market was 45 days and the sellers are receiving 94.96%, basically, 95% of their asking price.
In Hatfield Township, 4 homes sold and only 1 expired listing (did not sell). The average number of days on market here was elevated at 120 days. Again, when looking at the median sold price to original market price, the ratio that the sellers are getting here is 91.45% of the sales price.
What does all this say?
Well, for buyers looking for information on homes in these townships, it can better determine what percentage above your budget you can afford and where to start the negotiating process with a seller. Often times in today’s real estate market, buyers are under the impression that a home can be bought for 15 to 20% under the asking price. Seeing the actual statistics says otherwise. If you were to combine all 3 of the above mentioned townships’ median sold price to original list price, the percentage is 93.80, or 94%. A buyer can set reasonable expectations of negotiating down about six percent off the list price of a home.
In turn for sellers, seeing this data and focusing on it can help with setting a price. Pricing a home too high can lead to languishing on the market, becoming stale and possibly expiring (not selling) in a 3 to 6 month time period.
If you would like statistics on your particular town or even your neighborhood, and a different set of criteria like townhomes or condos, please feel free to contact me.
~Gina
A Spring Snapshot Analysis By our team member and guest blogger Gina Wherry originally appeared in the Montgomeryville-Lansdale Patch.
Contact Scott Loper, Associate Broker, Realtor®, RE/MAX Realty Group at 215-513-1333 for help buying or selling a home in Lansdale, Harleysville, Hatfield, Souderton, Skippack, Collegeville, North Wales and the surrounding areas of Montgomery County of Pennsylvania. To Search for Homes For Sale in Montgomery County Click Here.
A Spring Snapshot Analysis of Home Sale Stats in 3 Townships, Lansdale PA - Copyright © 2011, The Scott LoperTeam, All rights reserved.
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The Scott Loper Team
Scott Loper - Associate Broker
Lisa Loper - Sales Associate
Gina Wherry - Sales Associate
RE/MAX Realty Group
439 Main Street
Harleysville, PA 19438
Ph: 215-256-1200 x-213
