Most Contracts Result In Home Sales

 Most of the time, it seems, a contract will result in a closing.

OF NOTE -- this is a very (very!) imprecise analysis.  In some ways, it is most useful as an indicator of trends over time, but here goes nonetheless....

Per the data above, in 2016....

• 1,331 contracts were signed by buyers and sellers
• 1,309 closings took place between buyers and sellers

Does this mean that only 22 contracts fell through?  Well, sort of....

• Some of the contracts signed in 2016 resulted in closings in 2017.
• Some of the closings in 2016 were the result of contracts in 2015.

But, despite that slight fuzziness, it seems that the success rate of contracts rose to a new high in 2016 -- and thus far in 2017 has been a bit slower than last year -- though on pace with 2015.

So -- if, as a buyer, you see your dream home go under contract -- the chances are, it will really sell to that lucky buyer.  And -- if, as a seller, your home goes under contract -- the changes are, the buyer will really make it all the way to closing.  That's not to say that you won't, as a seller, have to navigate some speed bumps when it comes to the home inspection (for example) but most of the time (> 90%) contracts are resulting in closed sales in Harrisonburg and Rockingham County.