Buyers are writing offers in droves
Scott P. Rogers
April 2011 was a busy month of contracts, with 105 contracts inked on properties in Harrisonburg and Rockingham County. Having surpassed 100 contracts, we'll call that droves of buyers....
But what, you might ask, did these buyers actually contract to buy? Let's expand our search a bit and look at the price range of homes that have gone under contract in the past 60 days....
As you can see, houses priced under $200K are still HOT! To put this in perspective....
Active listings under $200K: 435
26% of active inventory may go under contract in the next 60 days
Active listings between $200K and $300K: 224
17% of active inventory may go under contract in the next 60 days
Active listings between $300K and $400K: 97
19% of active inventory may go under contract in the next 60 days
Active listings over $400K: 83
12% of active inventory may go under contract in the next 60 days
When compared to the active listing inventory, the under $200K and $300K to $400K price ranges are performing the best at this time.
But what, you might ask, did these buyers actually contract to buy? Let's expand our search a bit and look at the price range of homes that have gone under contract in the past 60 days....
As you can see, houses priced under $200K are still HOT! To put this in perspective....
Active listings under $200K: 435
26% of active inventory may go under contract in the next 60 days
Active listings between $200K and $300K: 224
17% of active inventory may go under contract in the next 60 days
Active listings between $300K and $400K: 97
19% of active inventory may go under contract in the next 60 days
Active listings over $400K: 83
12% of active inventory may go under contract in the next 60 days
When compared to the active listing inventory, the under $200K and $300K to $400K price ranges are performing the best at this time.
