"Active listings in the Harrisonburg, VA, metro jumped 72.8% year-over-year to 216 homes while weekly absorption held flat at 20 properties, creating a supply-demand imbalance that pushed 36.6% of sellers to cut prices in the week ending Nov. 14, 2025. The rapid inventory buildup marks a sharp reversal from last year's tighter conditions, when just 125 homes sat on the market."
"Despite the influx of new options, buyers absorbed the same 20 homes per week as they did a year ago, stretching months of supply to 2.7 and keeping the market in neutral territory. The disconnect between rising supply and steady demand appears most clearly in weekly activity metrics. While 33 new listings entered the market during the week, only 20 homes were absorbed, maintaining the pace recorded during the same period in 2024."
"This imbalance has sellers competing more aggressively for buyer attention. The 36.6% of active listings with price reductions exceeds typical market norms, while less than 1% of sellers raised prices. Another 8.8% of current inventory consists of relisted properties that previously failed to sell. The median list price reached $477,790, up 11% from $430,000 a year earlier, while price per square foot hit $208."
Active listings in the Harrisonburg metro rose 72.8% year-over-year to 216 homes while weekly absorption remained at 20 properties, creating a supply-demand imbalance. Months of supply expanded to 2.7, placing the market in neutral territory. Sellers cut prices on 36.6% of active listings, exceeding typical norms, while under 1% raised prices and 8.8% of inventory are relisted properties. Median list price climbed 11% to $477,790 and price per square foot reached $208. Properties spent a median 56 days on market, unchanged from last year. Monitor price-cut and relisting rates and the months-of-supply metric for further shifts.
Read at www.housingwire.com
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