As A Home Buyer, You Have Never Had Fewer Options


As A Home Buyer, You Have Never Had Fewer Options
By Scott Rogers • February 17, 2021
It's a tough time to be a home buyer. In most locations and price ranges there are VERY FEW homes for sale! As shown above, the number of homes for sale at any given time has drifted lower and lower and lower over the past 13 years to the very lowest point EVER this month with only 107 homes for sale in all of Harrisonburg and Rockingham County. This shortage of housing inventory has quite a few impacts... Buyers should be prequalified before looking at homes so they can be ready to make an offer quickly. Buyers should plan to see houses on the first day they hit the market. Buyers should plan to make a decision about an offer on the first day they hit the market. Buyers should be ready to compete with other buyers in a multiple offer situation. Sellers should anticipate quite a few showings per day over the first few days on the market. Moving forward into the spring season, which will eventually happen after another 5 to 10 snow storms... We are bound to see plenty of new listings. These new listings are likely to keep going under contract very quickly. The higher number of new listings will likely not have much of a net impact of increasing overall inventory levels. So, welcome to yet another, stronger, seller's market as we look forward to spring 2021! 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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