Two (of four) price ranges are well balanced (between buyers and sellers) in our local housing market.


Two (of four) price ranges are well balanced (between buyers and sellers) in our local housing market.
By Scott Rogers • March 11, 2015
Six months of housing supply is considered to be an indicator of a balanced housing market. That is to say that if we look at the average number of buyers buying per month (I prefer to look at it over a 12 month period) and then divide that into the number of active listings in that price range.... If we have about six months of listings for sale, that shows a balance between buyers and sellers in the market. If we have well more than six months of supply, then buyers have the upper hand, which is called a buyer's market. If there is less than six months of houses for sale, then sellers have the upper hand, which is called a seller's market. As shown above, we're in a relatively well balanced state in the "$0 - $200K" price range (we have been for a while now) and we have recently become much more balanced in the $300K - $400K price range due to some recent recovery in that segment of our local market. Read more about our local housing market in my monthly market report. Jump to the full online market report, or download the PDF.... 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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