Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Tuesday, September 15, 2020
Perhaps the City inventory levels were just so low that they didn't have far to fall? Multiple things to note here (above) regarding City vs. County inventory levels...
- There are only 44 homes (detached homes, duplexes, townhouses, condos) on the market (and not under contract) in the City of Harrisonburg. That is not very many options -- at all -- for buyers.
- Inventory levels in the City have fallen 14% over the past year, but perhaps because they were already super low a year ago.
- Shockingly - there has been a 50% decline over the past year in the number of homes on the market in Rockingham County. A year ago, a buyer would have had 216 options -- and today -- only 109.
In theory, inventory levels might (???) start to climb a *bit* this fall, but my general sense is that there is still pent up buyer demand and inventory levels could stay this low all through the fall and winter.
Sorry, buyers! :-/
