A decision framework using pace, supply, and pricing behavior
You are trying to decide if waiting improves your leverage or just delays the inevitable. Based on recent closed results in Henrico, VA, waiting for big price concessions was not supported last month, since homes closed at about 99.8% of asking.
Looking at the latest numbers, the clearest signal was how close buyers came to asking about 99.8% last month in Henrico, VA. Supply was 1.18 months, and a typical sale took 30 days during the same period. That matters because when closings are near asking and supply is limited, waiting is not automatically rewarded with discounts. Some metrics were not reported for this period. Without a longer comparison set in this file for every metric, I will not claim what the next month will do, but I will say your plan should assume competition remains real when leverage is this tight. If you need to buy soon, act with discipline get your financing readiness and decision criteria locked so you can move fast. If you can wait, use the time to narrow your search and strengthen your offer profile rather than hoping for a cheaper deal. In Henrico, VA, write offers you can stand behind near asking, because that has been the recent closing behavior.
About Scott Fogleman
Scott Fogleman is a licensed Real Estate Professional affiliated with New Home Team, specializing in the Henrico market. With a focus on strategic marketing and deep local knowledge, Scott Fogleman provides clients with expert guidance in navigating complex real estate transactions. View full profile →
