Trends in median price per square foot


Trends in median price per square foot
By Scott Rogers • June 20, 2008
One problem with tracking median home sales prices in a relatively small market is that median home sales prices can easily be swayed if a large number of small (or large) homes sell in a particular month or quarter. To try to account for the size of the home, I decided to take a look at how the median price per square foot has changed over the past six years. This graph has a few irregularities, but overall seems like it might be a reasonably trustworthy indication of how home values are adjusting over time. Do bear in mind that while I have removed the size factor, I have not accounted for some other factors such as age. The first quarter of 2004 showed a sizable decrease in median home sales price --- this could be explained by a large number of older homes selling, or by some other factor that would affect the price per square foot of homes that sold. 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 22, 2024 (unless otherwise noted).
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