What the recent supply level means for your next step
Trying to decide if you should keep touring or move fast on the right house is the real pressure point. My guidance for Glen Allen, VA is to treat supply as tight until proven otherwise, and build your plan around that constraint.
Here is the constraint I plan around based on the previous 30 days supply stood at 1.27 months last month for single-family homes and attached options combined. In the same period, a typical sale took 28 days and recent offers landed about 98.7% of asking. The practical impact is speed matters, but sloppy decisions get expensive. Some metrics were not reported for this period. With supply around 1.27 months, choices can thin out quickly, and buyers who wait to get organized often end up chasing the same small set of homes. Get your financing and decision criteria locked before your next weekend of touring so you can write clean when the right fit appears. Use the 98.7% of asking benchmark to set expectations plan for offers that are close to list unless the home has clear drawbacks. Build in a decision timeline that matches the recent 28-day pace, including inspection and due diligence steps you will not skip, so you move fast without losing control.
