Just How Fast Are Home Selling These Days?


Just How Fast Are Home Selling These Days?
By Scott Rogers • June 14, 2018
"Days on Market" is the number of days that pass before a property is under contract. Thus, if a home is on the market for 10 days before a contract is signed, the "days on market" will be 10 for that property. The "Median Days On Market" for any given time frame gives us a good sense of how quickly homes are selling. For example, the median of 28 days for the first five months of 2018 means that half of the homes that sold in the first five months of 2018 were under contract less than 28 days after they hit the market -- and half took more than 28 days to go under contract. It is important to note that this does NOT mean that half of homes that are LISTED are under contract within 28 days -- just that half of those that actually SOLD were under contract within 28 days. The trend line here is rather remarkable. Just six years ago (2012) the median days on market was right around 3.5 months -- and now the median is just under one month! Read more about our local housing market in the most recent edition of my monthly market report... 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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