September 2008 Harrisonburg & Rockingham County Real Estate Market Update


September 2008 Harrisonburg & Rockingham County Real Estate Market Update
By Scott Rogers • October 6, 2008
The September 2008 Harrisonburg & Rockingham County Real Estate Market Report is now available. Click here for a printable PDF of this report. When comparing September 2008 to September 2007, both median and average sales prices show declines, of 3.85%, and 4.96% respectively. However, when comparing Jan-Sept 2008 to Jan-Sept 2008, the median sales price still shows an increase of 1.03%. Each year for the past six years, September sales have been slower than in August, and 2008 was no different. However, September 2008 sales were stronger than September 2007, which, combined with the typical increase in October sales, make this a good trend to watch. This graph shows a normalized trend of home sales by charting the ongoing sum of the preceding 12 months' sales. Pay close attention this trend next month, as the September 2008 sales trend figure (Oct 1 ‘07 - Sept 30 ‘08) shows an increase in sales. For quite some time, we have seen an elevated level of inventory -- thus, it is healthy to see a decrease in inventory levels. Yet, we may also be observing a seasonal trend in inventory that we will see continue through the winter. Inventory has declined since August, and likewise, the number of months of housing that is on the market has also declined. The sub-$200k supply has remained stable for several months, but the price range with the most extreme over-supply ($400k+) has declined. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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