As inventory levels in Harrisonburg and Rockingham County continue to rise, it's easy to assume that we're back in a market where buyers have plenty of time to make a decision. And in some cases, that's true. Some new listings are sitting on the market for days, or even a week or more, without receiving an offer.

That slower pace can certainly give you a bit more breathing room than you had a year or two ago as a buyer.

But… don't be too quick to assume that every new listing will allow for a leisurely decision-making process. In many cases, homes are still going under contract quickly.

The Moment an Offer Is Received, the Clock Starts Ticking

Even if a house has been on the market for several days without activity, things can change rather quickly once the seller receives an offer. At that point, the timeline becomes much less predictable -- and not at all in your control as a buyer.

Some sellers might wait a few days before responding to that first offer. Others might decide to act quickly and make a decision within hours. 

How Sellers Decide When to Respond to an Offer

Every seller handles offers a bit differently, but here are four key factors that often influence their timing:

1.  How much interest has the property generated so far?  

If there have been multiple showings and a few buyers are already thinking seriously about the home, a seller may feel confident waiting to see if more offers roll in.  

2.  How many future showings are already scheduled?

If there are still 5 to 10 showings scheduled that have not taken place yet, a seller might hold off in hopes of another offer. But if activity has slowed, they may be more inclined to accept what's in front of them.

3.  What are the terms of the offer that has been received?

A strong offer with favorable terms (price, closing timeline minimal contingencies, etc.) might tempt a seller to act quickly and avoid risking a better offer that may never show up.

4.  How likely is it that a better offer will come along?

Sellers have to make their best guess here, often based on the first three factors. If the current offer seems solid and interest is fading, waiting might not be worth the risk.

What This Means for You as a Buyer

If you tour a home and it checks most or all of your boxes, don't assume you have days to think about it. Even if it's been on the market for a little while, the situation can change fast.

It's wise to make a plan right away after a showing to start preparing an offer if you choose to make one. That doesn't mean rushing into something you are not comfortable with - but being ready to act promptly can make the difference between securing the home you want to buy and missing out.