Days on Market Record-Breakers


Days on Market Record-Breakers
By Scott Rogers • October 30, 2008
In the last three months, 250 properties have sold in Harrisonburg and Rockingham County. On average, it took 177 days from the time they hit the market to the time they closed. There have, however, been some record-breakers.... The five homes that sold most quickly sold in 18, 19, 25, 28, and 28 days. The five homes that sold most slowly sold in 539, 541, 558, 704, and 752 days. (That's a range of 1.5-2 years.) As you can see, there is an enormous variation in the time that it takes for a property to sell. It is interesting, in contrast, to look at the "days on market" for active listings. This group of 886 properties has an average current days on market of 194 days, with the low being 3 days, and the high being 1,151 days (3.15 years!). What does this mean for you? We should analyze average days on market for your neighborhood or part of the city/county before putting your house on the market, and while it is on the market. Even with the analysis referenced, we must bear in mind that it is hard (in our current market) to predict how long any given property may take to sell. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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