An Update on Inventory Levels in Our Market

Virginia Beach Real Estate Podcast with Robbie McCarty

We are currently seeing record-low inventory across the U.S. and here in Hampton Roads. Here’s how that affects you as a buyer or seller.

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Home inventory across the U.S. and right here in Hampton Roads is at a 20-year low. Whether you’re planning on buying or selling a home, this affects you.

Right now in Hampton Roads, we are sitting at 4.8 months of inventory. A balanced market is usually around six months. With inventory this low, many sellers are getting their homes under contract within just a few days.

A lot of homes are selling at or above full price because there aren’t enough homes on the market to choose from. If you’re entertaining the idea of selling, let me know and I can give you an estimate of how much you could get for your home sale right now.

Thinking about listing your home?

As for buyers in this market, you’ve got to be quick and have an aggressive agent to find the right home and the right price because they are selling so quickly.

If you have any questions for me or you’re thinking of buying or selling a home, don’t hesitate to give me a call or send me an email. I would love to hear from you.