So You Are Saying You Are Having A Hard Time Finding A Home To Buy?


So You Are Saying You Are Having A Hard Time Finding A Home To Buy?
By Scott Rogers • August 26, 2020
So - there are only 186 homes for sale in all of Harrisonburg and Rockingham County. Which, as you can see above, is much lower than the number of homes for sale for most of the past 12 years. Breaking it down a bit further by location... 49 homes for sale in the City of Harrisonburg 137 homes for sale in Rockingham County ...and by property type... 149 detached homes for sale 31 townhomes and duplexes for sale 6 condos for sale ...and by price... 26 homes for sale under $200K 56 homes for sale between $200K and $300K 40 homes for sale between $300K and $400K 64 homes for sale over $400K Regardless of how you break it down, there are fewer options for buyers today than there have ever been at any other point in the past 12 (plus) years. One important caveat is that the lack of inventory at any given point does not mean that there aren't as many houses selling. There have been 1300-ish home sales per year for the past few years, despite continually declining inventory levels. So, basically, homes are coming on the market - but they are going under contract VERY QUICKLY - so inventory levels have been staying low or getting lower! What does this mean for buyers? You should plan to go see houses QUICKLY once they are listed for sale. You should talk to a lender ASAP (ask me if you need a recommendation) so you have a prequalification in hand if you choose to make an offer. You should know that you might be competing with multiple other buyers. You may need to use an escalation clause in your offer. It's not necessarily a totally fun time to buy a home right now because of these low (low!!!) inventory levels -- but it is possible to buy a home. Let me know if you'd like to chat about inventory levels in your particular segment of the local housing market. 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 25, 2024 (unless otherwise noted).
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