Is the Harrisonburg and Rockingham County Real Estate Market Keeping Up With The Joneses?


Is the Harrisonburg and Rockingham County Real Estate Market Keeping Up With The Joneses?
By Scott Rogers • February 1, 2010
It is often helpful to put numbers in context. Each month I publish a report on the Harrisonburg and Rockingham County real estate market, but today I thought I'd try to put those sorts of local numbers in the context of our neighboring markets. The following data comes from the Virginia Association of Realtors 2009 year end market report. First, let's take a look at how we compared to our neighboring markets as to the number of home sales this past year (2009) compared to the prior year (2008). As you can see, the sum total of Virginia showed a 2% increase in the number of home sales. In comparison, Harrisonburg and Rockingham County aren't doing so well --- with a 13% decline in home sales. In fact, the markets north, south and east of our market have all shown a stronger performance as measured by the number of home sales. But what about home values, or median sales prices, you might ask . . . . This is the area where Harrisonburg and Rockingham County has done well --- hmmmmm --- or at least we haven't done as poorly as our neighboring markets, and the state as a whole. Our market saw a 4% decline in median sales price, in comparison to 9% for the state as a whole, a whopping 17% decline north of our market, and a 5% decline to the east. This data is consistent with what I have been observing for the past several years --- home values are holding steadier in our market than in most areas, but home sales have been quite slow as a result. Now, what shall we predict for 2010 and 2011?? Receive Updates by Email Recent Articles: 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 Consider The Cost Of Your Planned Renovations When Planning Your Offer
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 21, 2024 (unless otherwise noted).
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