Are we in this alone? How is the rest of Virginia doing?


Are we in this alone? How is the rest of Virginia doing?
By Scott Rogers • July 29, 2008
For many sellers, this is a challenging real estate market. For buyers, of course, it can be a wonderful time (lots of selection, lots of negotiating power). But back to the sellers --- you might wonder if we're in this alone, or if other parts of Virginia are seeing similar trends and conditions as we see here in Harrisonburg and Rockingham County. It's o.k. to take a peek --- here's what you'll find: Almost everyone, including Harrisonburg, is seeing a decline in the number of homes being sold. Of the 21 markets being measured, only 3 saw an increase in sales --- though Harrisonburg's 23% decline was worse than the overall decline of 13% across the state. Most areas are seeing median price declines, but not Harrisonburg! Out of the 19 markets being measured, 12 showed a decrease in median sales price. Harrisonburg showed no change (increase or decrease). A large majority of areas are seeing average price declines, including Harrisonburg! Out of the 22 markets being measured, 18 showed a decrease in average sales price, including Harrisonburg's 6% decline. The stats above are pulled from the Virginia Association of Realtors' 2nd Quarter home sales report. You can review the entire report, or the stats supporting the report. Please do note that this report is based on 2008 second quarter stats, as compared to 2007 second quarter stats. 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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