Have you missed out on the majority of 2017 home buyers at this point?


Have you missed out on the majority of 2017 home buyers at this point?
By Scott Rogers • June 20, 2017
Short answer -- yes, but no. :) Longer answer.... In a recent conversation with a home seller, they wondered if they had missed out on the best time to sell their home since they wouldn't be ready to get their house on the market until July 1. Let's take a look at what last year looked like from the perspective of when buyers signed contracts to purchase homes. Based on the graph above.... Only slightly more than half (54%) of contracts signed in 2016 were signed before July 1. The most active months of contract signing were April (158), May (141) and March (133). August was just after that, however, with 130 contracts and July was also quite strong with 119 contracts. Thus, there are several more (at least two) months of strong buyer activity to come. Contracts were signed at an average pace of 135/month between March and August. The average pace of August (99) and September (109) was 104/month. This is not a significant decline -- we're not talking about having only half as many buyers signing contracts per month once you get into September and October. Even November had 93 contracts signed. Certainly, if you were hoping to sell (close on) your house this summer (by Aug 31) then you would have been better off to list your home for sale earlier in the year -- but there are still plenty (!) of buyers who are likely to be signing contracts for the next several months. As usual -- every segment of the market (based on price, location, property type) is a bit different -- so let me know if you want to chat more specifically about your home, and what it would look like to list your home for sale in the coming month to be aiming for one of these late-summer / early-fall buyers. 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 21, 2024 (unless otherwise noted).
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