Home Sales Increase, Prices Increase, Contracts Increase!


Home Sales Increase, Prices Increase, Contracts Increase!
By Scott Rogers • August 8, 2011
Finally, some signs of hope for the local housing market! I just completed my monthly analysis of the Harrisonburg and Rockingham County real estate market, and there are plenty of reasons to be excited. Download the full market report (PDF, 7MB) or read on for some highlights. As seen above, July 2011 home sales shot past July 2010 by 48% --- which helped the year-to-date sales pace to come within 6% of last year's pace. Furthermore, we did not see a decline in median sales prices when comparing this July and last July....and....the average sales price INCREASED by 5% comparing July to July. But it gets better --- the next few months should be rather exciting as well, since July 2011 buyer activity (shown above) exceeded both July 2009 and July 2010 contract levels. Finally, some good news for local home builders, new home sales may finally be stabilizing, with both the pace and price of new homes looking to stay relatively consistent between 2010 and 2011 (as shown above). One of the reasons (among many) that we are continuing to see improvement in the local housing market is because mortgage interest rates continue to stay below 5%. As shown above, they have started to increase a bit, but are still at an average of 4.6%. Click on the image above to download my full Harrisonburg & Rockingham County Real Estate Market Report for further analysis of our local housing market. As always, I have included both the good news and the bad news -- my hope is that my analysis will empower you to make the best real estate decisions possible. If you have questions about the report, or if I can be of assistance to you 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).
Comments (0) or Subscribe