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 three- to four-bedroom, single-family homes that sold between $300,000 and $400,000 during the last three months.   Let’s examine the results.

• In Towamencin Township, there were nine homes sold and only one listing that expired (did not sell). The average number of days the home was on the market for these nine 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.), the sellers are receiving 95 percent of their asking price. 

• In Montgomery Township, there were seven 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 percent, basically 95 percent, of their asking price.

• In Hatfield Township, there were four homes sold and only one 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 percent 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, in today’s real estate market, buyers are under the impression that a home can be bought for 15 to 20 percent under the asking price.  Seeing the actual statistics says otherwise.   

If you were to combine all three of the above mentioned townships’ median sold price to original list price, the percentage is 93.80, or 94 percent. A buyer can set reasonable expectations of negotiating down about 6 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 three- to six-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.

Next month, we’ll report the second quarter sales statistics for all of Montgomery County.

For more information, contact Gina Wherry at 215-256-1200, ext. 322, or gina@scottloperteam.com.