Is The Local Housing Market Starting To Cool Off?


Is The Local Housing Market Starting To Cool Off?
By Scott Rogers • November 10, 2021
Several local agents have recently said, conversationally, that they think the local housing market is starting to cool off. Is it? Maybe yes and no, depending on what you mean, and how you measure it? ;-) No - After only seeing 148 home sales in September 2021, there were even more (158) in October 2021! No - After seeing only 125 contracts signed in September 2021, there were 156 contracts signed in October 2021! Yes - It took a median of five days for homes to go under contract in September 2021 and a median of six days in October 2021. Slower. Much slower. By a day. Gasp! Maybe - Six to twelve months ago it was not uncommon to have 2, 5 or 10 offers on a house within 48 hours of the property hitting the market. Now, I'm often, but not always, seeing fewer offers within the first few days. This is definitely anecdotal, not based on data. So, is the market cooling? The data seems to say no. Sometimes it feels like it. Some other agents think it is. What do you think? (email me) 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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