City Homes Selling Three Times Faster This Year Than Last
Scott P. Rogers
Here is a somewhat startling statistic....
Looking at the start to last year (Jan 1 - Feb 20) the homes that sold (went under contract) in the City of Harrisonburg did so with a median "days on market" of 67 days.
This year during the same timeframe (Jan 1 - Feb 20) the homes that sold (went under contract) in the City of Harrisonburg did so with a median "days on market" of 20 days.
So -- homes are selling (more than!) three times faster than they were last year. Wow!
And -- a few more homes are selling....
Contracts between Jan 1 and Feb 20:
- 2017 = 47 contracts
- 2018 = 52 contracts
Buckle up! It seems like it might be a fast paced market for much of 2018. Low inventory levels and rising interest rates certainly are contributing to this.
