HOW LONG did you say this house has been on the market?


HOW LONG did you say this house has been on the market?
By Scott Rogers • April 29, 2010
Apparently, long enough for the ivy to grow through the windows! But on a more serious note --- or at least more focused on data..... In the past year, there have been 828 home sales, 97 of which took longer than a year to sell, which is 12% of the home sales. There are currently 989 homes on the market for sale, 192 of which have already been on the market for more than a year, which is 19% of the active inventory. If we assume it would take another 60 days for any of these active listings to sell, we find that there are 250 that have been on the market for at least 10 months --- in other words, 25% of the active inventory. So, it would seem --- no big surprise --- that there are many more homes on the market than there are buyers to buy them. This, thus, results in many homes languishing on the market. Of note, as I mentioned earlier this week, we're not really headed in the right direction. So far this month (Apr 1 - Apr 28) we have seen 217 new listings come on the market in Harrisonburg and Rockingham County, and in that same time only 57 sold. Conclusions & Directives: If you don't have to sell, don't --- it's not a great time to do so, given all of your competition with so many other listings. If you have to sell (or really want to), know that it may take longer than you expect. Don't believe the cartoon in yesterday's Daily News Record.....yet..... 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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