Inventory Levels Seem Unable To Drop Below 250


Inventory Levels Seem Unable To Drop Below 250
By Scott Rogers • October 30, 2019
It's been the story for quite a few years now (at least 10 years, it seems) that inventory levels are dropping -- buyers have fewer and fewer homes from which to choose when they are looking to buy in Harrisonburg and Rockingham County. Here are how many homes have been on the market in October for the past 10 years... 2010 = 927 2011 = 810 2012 = 655 2013 = 635 2014 = 636 2015 = 640 2016 = 480 2017 = 356 2018 = 317 2019 = 278 So, it's certainly a more challenging time to be a buyer than anytime in the past 10 years -- but inventory levels seem to now be bottoming out around 275. Here's what the past six months have looked like... APR = 270 MAY = 277 JUN = 267 JUL = 270 AUG = 267 SEP = 275 So, over the next year, I wouldn't be surprised if we never dipped lower than 250 and we never rose above 300. Given these limited inventory levels, it is more important than ever that buyers in today's market are ready to be patient and then to ACT QUICKLY! :-) Buyers can make it a bit easier on themselves by knowing the market, knowing the process, knowing your buying power, and closely monitoring new listings! 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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