Buying choices continue to shrink in the Harrisonburg area


Buying choices continue to shrink in the Harrisonburg area
By Scott Rogers • June 15, 2012
As mentioned in the Daily News Record today, the number of homes for sale keeps declining. Current inventory levels are down 14% (see the graph above) from one year ago --- and down 25% from two years ago. SELLERS: Research (with your Realtor's help) inventory in your segment on the market (age, location, size, price). You need to know if your segment of the market is also experiencing declining inventory. Price, market and negotiate according to what you find. BUYERS: If you are attempting to buy in an under-supplied segment of the market, be ready to act fast when the right property comes along with home sellers who have priced the house to sell. WOULD-BE SELLERS: Research your segment on the market to see if you'll be listing your home in an over-supplied or under-supplied market. You might be positioned quite well to sell quickly --- or, you might be in for a long wait. Read more about the local housing market in my full monthly market report by clicking on the report cover below. 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 22, 2024 (unless otherwise noted).
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