Market Balance (Months of Supply) By Price Range


Market Balance (Months of Supply) By Price Range
By Scott Rogers • July 14, 2016
Most housing market analysts consider six months of inventory (active listings) to be an indicator of a balanced market (between buyers and sellers). This past month, our local housing market achieved that balance for the first time in a long time -- the number of buyers buying in a six months period exceeded (just barely) the number of houses for sale. HOWEVER -- it is important to note that this overall market reality can obscure the underlying trends in different segments of our local market. As shown above.... The "Under $200K" market reached a balance almost two years ago and is now somewhat under-supplied with only 4.1 months of supply available. The $200K - $300K market is relatively balanced, but with a slight over-supply at 6.6 months of supply available. The $300K - $400K market is somewhat balanced, with more of an excess of listings, with 7.8 months of supply available. The "$400K and up" market is not at all balanced, with 14.3 months of supply available -- but it has certainly improved over the past few years. Read more about the latest market trends at HarrisonburgHousingMarket.com.... 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 24, 2024 (unless otherwise noted).
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