The bigger they are (houses), the harder they fall (sales)?


The bigger they are (houses), the harder they fall (sales)?
By Scott Rogers • December 30, 2010
At the current pace of the market, it would take 21 months to sell all of the housing currently on the market in Harrisonburg and Rockingham County priced over $400,000. Wow, those expensive homes certainly are suffering, aren't they? Maybe not..... While large homes are not always expensive, and expensive homes are not always large, the trend above might be surprising given how many expensive homes are on the market. The graph above illustrates that although the pace of all home sales has fallen quite drastically over the past three years (a 38% decline), sales of large homes (3,000+ square feet) have only declined by 19%. So, it seems that the inventory statistics don't tell us the entire story. There are a relatively similar number of buyers of large homes in the marketplace as compared to three years ago......but significantly more sellers! Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? 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
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 25, 2024 (unless otherwise noted).
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