Contract Activity Actually Slowed in April 2018


Contract Activity Actually Slowed in April 2018
By Scott Rogers • May 1, 2018
This has been a ridiculously fast paced first four months of the year in my small corner of the local real estate world. As shown above, sometimes, my desk seems to be taking flight and I'm just fighting to keep up -- and, apparently, growing a beard because I don't have time to shave? :-) Homes have been snapped up almost as fast as they have been listed for sale. Multiple offer scenarios are much more common even if not the norm across all price ranges. Buyers have been rushing out to see homes as quickly as they are listed to hope to have a chance to submit an offer. So, it's funny, then when the numbers don't completely reinforce what I am seeing -- ok, feeling -- on the ground. 146 buyers signed contracts during April 2017. 123 buyers signed contracts during April 2018. As shown above, contract activity actually slowed a bit when comparing this most recent month of April to last April. This (fewer contracts) could, of course, be related to buyers having limited options because of low inventory levels. Homes for Sale in early May 2017 = 411 Homes for Sale in early May 2018 = 323 I'll publish my full monthly market report in another week or so (if I can jump off this speeding train of sales activity for a few hours to do so) and we'll see what the other numbers show. For now, though, it is interesting to note that contract activity actually slowed in April 2018 as compared to last April. 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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