Harrisonburg Housing Market Trends Test Seller Patience

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.

Inventory climbs while buyer activity plateaus

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.

Prices hold despite inventory pressure

The median list price reached $477,790, up 11% from $430,000 a year earlier, while price per square foot hit $208. These gains persist even as inventory conditions shift in buyers’ favor.

Properties spent a median 56 days on market, unchanged from last year despite the increased competition among sellers. This stability suggests buyers remain selective even with expanded choices, maintaining their pace rather than accelerating purchases.

What to watch

Monitor the 2.7 months of supply metric for signs of further inventory accumulation. Track whether the 36.6% price-cut rate climbs higher as sellers adjust to new market dynamics. Watch if the 8.8% relisting rate increases, signaling more properties cycling back onto the market.

Use the 72.8% inventory surge and 36.6% price-cut rate when advising sellers about pricing strategy in current conditions. Track the stable 20-home weekly absorption rate to gauge whether buyer activity shifts in response to increased options. Leverage the 56-day median market time to set realistic expectations for both sides of transactions.

HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate housing market reports. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.