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
Thursday, June 10, 2021
Maybe you've heard that homes are selling quickly these days? ;-)
Indeed, they are!
As shown above -- for the homes that have sold thus far in 2021, that went under contract in 2021, the "median days on market" was only four days!
That means that half of these homes were under contract in four or fewer days!
To put that in a greater context, as per the graph above -- that median was 10 days last year, nearly 20 days three years ago, and nearly 30 days four years ago.
So, yes, homes are selling QUITE speedily this year!
Buyers, as a result...
- Should realize that many of their best options for buying are not those currently on the market, but those coming on the market in the coming weeks and months.
- Should be ready to view houses quickly once they are listed and be prepared to make a decision quickly about whether to make an offer.
- Should have a lender letter in hand to show their financial qualification for making such an offer.
- Should start thinking about what contingencies they will and will not include in said offer.
It's a STRONG seller's market out there right now, and this shows itself most clearly in the speed at which homes are going under contract.
Enjoy, sellers! Good luck, buyers!
