Different Local Real Estate Markets Are Performing, Unsurprisingly, Differently
Scott P. Rogers
If you are relocating from a small rural area (or from a much larger city) to Harrisonburg, you are likely to experience different market dynamics in the two local markets.
If you are relocating from Harrisonburg to a much larger city (or to a much more rural area) you are likely to experience different market dynamics in the two local markets.
In conversations with folks moving to or from larger markets, I have heard anecdotes of...
- 20+ offers within a few days of a house being listed for sale
- 30+ showings within a few days of a house being listed for sale
- Buyers offering 10% to 20% over the asking price.
Those sort of (extreme!) market dynamics are not currently being seen very frequently in Harrisonburg... but every local market is different.
Consult an active, professional, local Realtor in the area where you are relocating to or from in order to understand current market dynamics in that market. Knowing how the market is performing will help you set proper expectations relative to potential offer terms and contingencies.
