HARRISONBURG HOMEOWNER
  • Blog
  • Sell a Home
  • Find a Home
    • Buying Guide
    • New Listings
  • Contact
  • Lakewood Estates
    • Active Listings
    • Plats and Covenants
  • Kiva Program

Schools Out For Summer and So Are Buyers? 

6/9/2016

0 Comments

 
Picture
You often hear that summer is the busiest time for real estate.  It makes sense.  Teachers are out of school and able to devote time to buying/selling their home.  There is more daylight. Also, more people are willing to get out and look at houses when the weather is nice. This all makes logical sense, but will the statistics support the theory?  Let's take a look...

Contracts Vs Sold

The first thing we need to consider is the difference between a house going under contract and a house actually selling.  In general, it takes about 45-60 days for a house to close after it goes under contract.  So, some of the sales we will be seeing in the early Summer months are actually houses that went under contract in the Spring.  Furthermore, some of the contracts we see in the late Summer will not actually close until the Fall.

With this in mind, I think it is important to look at both aspects to understand how active the summer months are.  To start, let's look at houses that go under contract.

New Contracts

Picture
As we can see from this graph of Harrisonburg and Rockingham contracts over the past 4 years, the number of contracts peak in the spring and then slowly decrease through the summer (school year).  In some years the pace of contract has stayed somewhat steady or there is a spike closer to fall.  Let's take a look at how this effects actual sales.

Number of Sales

Picture
As we can see from this graph, the peak of sales is truly in the Summer.  This logical as the peak of contracts should precede the peak of sales.  

So, this does not mean it is too late to sell your house.  The current market has still been buzzing with people looking for housing.  As we can see, the number of sales stay fairly strong into the fall months.  

If you have any real estate related questions, call me at 540-246-9067.
0 Comments



Leave a Reply.

    RSS Feed

    Categories

    All
    Appraisal
    Association Fee
    Backyard Fire
    Bank Owned Homes
    Best Of Harrisonburg
    Best Of The Valley
    Bidding War
    Broadway
    Bubble
    Buyer Profiles
    Buying
    Cash
    Closing Costs
    Commercial
    Coronavirus
    Deferral
    Depreciation
    Development
    Down Payment
    Featured Listings
    First Time Homebuyer
    Flipping Real Estate
    Forbearance
    FSBO
    Getting Ready To List
    GIS
    Harrisonburg
    Home Inspection
    Home Preperation
    Inventory
    Investment
    JMU
    Key Terms
    Kitchen
    Land
    Loan Commitment
    Local Guide
    Map
    Marketing
    Market Report
    Massanutten
    Mortgage
    Moving
    National Statistics
    Negotiations
    New Construction
    Office
    Organizing
    Penn Laird
    PMI
    Preston Lake
    Recasting
    Refinance
    REI
    Relocation
    Remodeling
    Rental
    Rockingham
    Safety
    Sales Forecast
    School District
    Search
    Sellers Market
    Selling
    Settlement
    Staging
    Tax
    Timberville
    Title Insurance
    Township
    TRID
    Utility Costs
    Utilty
    Video
    Virtual Reality
    Weekly Report
    Zillow

Picture
Picture
Email - Click Here
Phone - 540-246-9067
Website - www.mattiasclymer.com
​Schedule a Meeting, Download Contact Card, Etc...

Funkhouser Real Estate Group  |  401 University Boulevard, Harrisonburg, VA 22801  |  540-434-2400  |  ©2021  |  Privacy Policy  |  All rights reserved.

Licensed in the Commonwealth of Virginia
  • Blog
  • Sell a Home
  • Find a Home
    • Buying Guide
    • New Listings
  • Contact
  • Lakewood Estates
    • Active Listings
    • Plats and Covenants
  • Kiva Program