June 2008 Harrisonburg Area Home Sales Report


June 2008 Harrisonburg Area Home Sales Report
By Scott Rogers • June 9, 2008
A few interesting stats to take note of in this month's home sale report. The pace of home sales (closings) is increasing. Year to date, the closings are down 23.21% compared to last year --- this decrease in sales is an improvement over 23.28% in April 2008, 24.71% in March 2008, and 27.86% in February 2008. Sellers aren't putting their homes on the market as quickly. It was rather disturbing to see the increased rate at which sellers were listing their properties for sale in February (+59%), March (+35%) and April (+43%) as compared to the same month the previous year. In May 2008, however, sellers put their homes on the market at a pace only 17% than during the same time period in 2007. Median home sales prices are down? Interestingly, May 2007 versus May 2008 shows a 3.13% decline in median sales prices. Furthermore, the year to date median sales price trends over the past few months have been headed in the same direction. Jan '07 - Feb '07 compared to Jan '08 - Feb '08 showed an increase of 6.16%. Jan '07 - Mar '07 compared to Jan '08 - Mar '08 showed an increase of 5.08%. Jan '07 - Apr '07 compared to Jan '08 - Apr '08 showed an increase of 4.27%. Jan '07 - May '07 compared to Jan '08 - May '08 showed an increase of only 2.14%. Next month's report will certainly be interesting to review to see if this "decrease in the increase" of median home sales prices will continue. Again --- when we look at year to date figures, median sales prices are not decreasing, but as each month has passed this year, the rate at which they are increasing has been decreasing. How's that for a tongue twister! For your reference --- the last few monthly reports: May 2008 April 2008 March 2008 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 22, 2024 (unless otherwise noted).
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