Are you next in line to sell your home?


Are you next in line to sell your home?
By Scott Rogers • November 23, 2011
In Harrisonburg and Rockingham County, looking at the year thus far (thru Oct 31, 2011).... There have been 653 home sales, which is an average of 65 homes per month. There are currently 779 homes on the market. Thus, within 12 months (779 / 65) everybody's house will have sold, right? Kind of like I have illustrated it below? Isn't that wonderful news? Within 12 months, everybody's house will have sold! Rejoice! But wait -- each month, while there are homes selling (perhaps 65) there are also new listings (perhaps 65).... Thus, inventory always stays (roughly) the same, aside from seasonal ups and downs and long term shifts in inventory levels. So.....the big question, do all of the houses get in line and sell in an orderly fashion? If there are 12 months of homes on the market, certainly the first ones to sell are those that have been on the market for 11 months, right? Because all homes patiently wait in line and let homes that have been on the market longer sell first, right? First come, first serve? Nope, things don't work that way in the real estate market. You don't get "your turn" when it comes to selling your house. Some houses that sell this month will have been on the market for less than a month. Some just for two or three months. And yes, some of the homes that are currently on the market have been sitting there watching sales go by for months or even years. So, if your house is on the market, make sure you're not thinking that you will just wait your turn, and that eventually it will be your house's turn to sell. Think about (or talk to me about) what you can do to make sure your home IS one of the next 65 to sell, and doesn't continue to wait around......as the waiting could go on forever! 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 22, 2024 (unless otherwise noted).
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