Inventory Levels Are Rising, But Consider The Larger Context


Inventory Levels Are Rising, But Consider The Larger Context
By Scott Rogers • April 17, 2024
Inventory levels are rising. That much is true. At the end of last month there were 172 homes for sale in Harrisonburg and Rockingham County... well more than the 111 to 135 at the end of March each of the past three years. But... if you consider a context of any length of time longer than four years, you start to see a pretty different story. It's hard to believe, but back in 2008 - 2011 there were over 800 homes for sale at the end of March!?! All the way through 2016 we were generally around or above 600 homes for sale. We did see large year over year declines between 2016 and 2017 (570 down to 400) and between 2020 and 2021 (226 down to 111). So, while we're now seeing "the highest inventory levels we have seen in four years" = it's important to consider the larger context of where we have been over the past 15+ years. 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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