How long does it take to sell a home in today's current market in the State College school district?  There are several stat's to consider.

Average DOM (active listings) - 151 days

Average DOM (closed in past 6 mo.) - 67 days

Absorption Rate - 5.3 months

What does it all mean? I will explain each statistic and it's relevance.

Average DOM (active listings) - This number takes all current listings and averages the market time that all of the homes have been on the market.  Currently, homes in State College that are actively 'For Sale" have been on the market 151 days or 5 months.

Average DOM (closed past 6 mos.) - This number tell us that of those homes that have sold in the past six months they average 67 days on the market before they receive a good contract that leads to a sale.

Absorption Rate - This may be the most accurate snap shot of the market as of today.  The absorption rate considers the current market by looking at the number of active listings and comparing the number to the number of sold listings the previous month.  The absorption rate will change by month and season but reflects the market today. 

The 5.3 months in our statistics above tell us that it would take 5.3 months to sell all of the existing active inventory in the State College school district.

Of course we operate in a fluid and cyclical market so the numers change but this provides us with a great snap shot if the current market in State College.