The Ever Speedier Pace Of Our Local Real Estate Market


The Ever Speedier Pace Of Our Local Real Estate Market
By Scott Rogers • June 10, 2021
Maybe you've heard that homes are selling quickly these days? ;-) Indeed, they are! As shown above -- for the homes that have sold thus far in 2021, that went under contract in 2021, the "median days on market" was only four days! That means that half of these homes were under contract in four or fewer days! To put that in a greater context, as per the graph above -- that median was 10 days last year, nearly 20 days three years ago, and nearly 30 days four years ago. So, yes, homes are selling QUITE speedily this year! Buyers, as a result... Should realize that many of their best options for buying are not those currently on the market, but those coming on the market in the coming weeks and months. Should be ready to view houses quickly once they are listed and be prepared to make a decision quickly about whether to make an offer. Should have a lender letter in hand to show their financial qualification for making such an offer. Should start thinking about what contingencies they will and will not include in said offer. It's a STRONG seller's market out there right now, and this shows itself most clearly in the speed at which homes are going under contract. Enjoy, sellers! Good luck, buyers! 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 22, 2024 (unless otherwise noted).
Comments (0) or Subscribe