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My Predictions For The 2025 Real Estate Market In Harrisonburg, Rockingham County |
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 The last few years in the Harrisonburg and Rockingham County real estate market have not been entirely predictable but let's take another go at it for 2025... 4% Increase In Home Sales The number of home sales per year dropped significantly in 2023 as mortgage interest rates rose and stayed quite high. Despite a continuation of high-ish mortgage interest rates, we saw a 12% increase in the number of home sales last year. I believe we will see further growth in the number of homes selling in Harrisonburg and Rockingham County, but I don't think it will be another year of double digit growth. I am predicting a 4% increase in the number of homes selling in our market during 2025. This will get us back up to 1,400 home sales in a year... but not back up to the 1,500+ level that we saw during 2020, 2021 and 2022. And how about those sales prices...  4% Increase In Median Sales Price After three years of 10% - 11% increases in the median sales price (2021, 2022, 2023) we only saw a 5% increase in that median sales price in 2024. Multiple years of increases in home prices, combined with higher mortgage interest rates, resulted in a smaller increase in the median sales price last year. I am predicting that home prices will rise, again, in 2025 -- but that they will only increase by about 4%. But enough about my predictions -- what about your predictions? Will we see more or fewer home sales in 2025 than in 2024? Will we see higher or lower sales prices in 2025 than in 2024? Email me with your thoughts or predictions! Recent Articles:
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Scott Rogers
Funkhouser Real
Estate Group
540-578-0102
scott@funkhousergroup.com
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Commonwealth of Virginia
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