Mixed Signals From January Housing Market Activity in Harrisonburg and Rockingham County


Mixed Signals From January Housing Market Activity in Harrisonburg and Rockingham County
By Scott Rogers • February 7, 2011
My most recent market report (excerpts below, full report here) shows a variety of mixed market indicators when examining market data through January 31, 2011: Home Sales Down (bad) Home Prices Down (bad) Contracts Up (good) Inventory Down (good) Read on for insights into the current housing market in Harrisonburg and Rockingham County.... Home sales in January 2011 (39 sales) were down compared to the 45 sales in January 2010 -- but up compared to the 37 sales in January 2009. This is a relatively even start for 2011, and if the past three years are any indicator, we'll have around 50 home sales in February. This graph shows a rolling 12 months of home sales -- and you can see that the annual pace of home sales has been declining for several years other than the temporary respite offered by the home buyer tax credit last year. The last several months, however, seem to be offering some leveling out of this indicator. Buyers were out in full force in January 2011 -- 62 properties went under contract. This is an increase over January 2010 (59 contracts), an increase over January 2009 (43 contracts) and an increase over last month (40 contracts). This could be a strong spring market. Perhaps due to a small sample size, the median sales price continues to decline in January 2011. We are currently seeing the lowest inventory levels that we have seen over the past two years. This can help the market to stabilize, unless the market is flooded with listings in March and April. Click the image above (or here) to read the full report. If you have questions about this report, or if I can be of assistance with real estate that you own, or that you'd like to own, please be in touch. You can reach me most easily at 540-578-0102 or scott@HarrisonburgHousingToday.com. 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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