A Turning Point In The Market?


A Turning Point In The Market?
By Scott Rogers • November 11, 2007
October 2007 --- mark it (retroactively) on your calendar --- the first month where sales exceeded the corresponding month in 2006. For the past 9 months (Jan '07 - Sep '07), we saw lower sales each month than the same month in the previous year. However, that all changed in October --- and while it is certainly too early to call it a trend, it does suggest that some changes may be afoot in our local market. It is also interesting to observe that in 2004 and 2005 there was a very similar upwards tick in sales when looking at September and October. Additionally, in those two years, November and December were strong months. We will have to patiently wait to see how the next few months progress, but October sales are either an abnormality, or are an indication that a new sales trend has begun in our local market. The Details: The graph below shows the number of sales per month as reported by the Harrisonburg/Rockingham MLS in all of Harrisonburg and Rockingham County. You'll note that the blue line (2007) has been significantlybelow the green line (2006) all year until October. 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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