Market Balance (Months of Supply) By Price Range

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Market Balance (Months of Supply) By Price Range
By Scott Rogers • December 29, 2020 Filed In: analysis, market
Most housing market analysts consider six months of inventory (active listings) to be an indicator of a balanced market (between buyers and sellers). We have been out of balance for quite a few years now in most price ranges. Under $200K Even four years ago there were only 4.2 months of supply available in this price range, and now that is down to a shockingly low 0.8 months of supply. $200K - $300K We saw a balance four years ago with 5.9 months of supply available, but that has dropped to only 1.3 months of supply as of last month. $300K - $400K There was an oversupply of homes in this price range four years ago, with 7.5 months of supply on the market - but today this price range is significantly undersupplied with only 2.3 months of inventory on the market. Over $400K This price range was drastically oversupplied four years ago with 12 months of supply available, and now is "at a balance" with 5.8 months of supply available. Read more about the latest market trends at HarrisonburgHousingMarket.com.... Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address: Recent Articles: When Should I Start Looking For A Home To Buy If My Lease Ends This Summer? Office Building, 77 Apartments and 93,600 SF of Storage Units Proposed Amidst Residential Developments, Church, Rescue Squad and Hospital in Rockingham County There Are Usually Two Phases Of Looking For A Home January Housing Inventory Levels Sink To New Lows Will Buyer Activity Continue Full Strength In January? Maybe Some Townhouse Developments Have Fewer Homeowners (Living In Those Townhouses) Than I Thought Juniper Hill Commons, A Multi-Generational Cohousing Community Is Under Development On Keezletown Road Most Homes Sold Quickly In 2020! Not Much Negotiability In Home Prices In 2020 At Year End, Home Sales Up 13%, Prices Up 10% in 2020 in Harrisonburg, Rockingham County
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 Jan 28, 2021 (unless otherwise noted).
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