How long does it take to sell a house where I live? – Flourtown

19031-Days-on-Market

You’ve probably heard that we are in a Seller’s market. Inventories are low in our area and properly priced homes in desirable condition sell quickly. This rough analysis of the Flourtown zip code, which straddles Whitemarsh and Springfield Townships in Montgomery county, depicts recent listing activity including active (9 homes), pending (6 homes), and properties that have settled within the last 6 months (22 homes). *Twelve new construction listings were filtered out of the analysis and are not included in the totals.

The days on market (DOM) for each property is represented on the map depiction with a graduated shaded circle and a color-coded center to indicate which properties are Active (Green), Pending (Blue), or Settled (Yellow). The average DOM for the entire dataset including Active listings is 34, while the average for Settled and Pending properties is 27. Whitemarsh Township as a whole has an average DOM of 48 for the last 6 months, Springfield Township’s average is 56 days for the same period.

Do you own a home in Flourtown and are you thinking about moving? There are 6 active homes at the time of writing. If you were to list your home for sale today, you would be competing with 6 or fewer homes in this immediate zip code. Why do I say “or fewer”? Not every home for sale in 19031 is competition for your home and homes that have been on the market for over 60 or 120 days have been or are approaching the point of being rejected by the current market at their current price (Why?, See Absorption Rate below).

Buyers looking at this area are likely to consider other parts of Whitemarsh or Springfield as well as the surrounding areas. Current inventory in Whitemarsh is at 81 homes with average monthly sales of 18 homes, resulting in an absorption rate of 4 months. Springfield’s inventory is at 65 homes with average monthly sales of 24 homes, that is an absorption rate of just over 2 Months! Absorption rate is the theoretical length of time needed to sell all inventory based on the average monthly sales for the previous 12-month period.

Are you interested in seeing this analysis for another area? Mention it in a comment or send me an email and I’ll add it to my list.

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