Land sales slowing (more slowly) over an acre


Land sales slowing (more slowly) over an acre
By Scott Rogers • May 3, 2009
A few days ago I mentioned that lot sales in Harrisonburg and Rockingham County (of less than an acre) have slowed dramatically. In fact, the rate of such lots sales has fallen 82% since their peak in 2004. Lane Chesley then asked about lot sales of over an acre, hypothesizing that such sales might not have fallen as much as those may be more desirable parcels. Let's take a look.... As you can see above (click the graph for a PDF) --- sales have also fallen rather dramatically of parcels larger than an acre, but Lane was correct in his assumption. Lot sales (larger than an acre) have only fallen 69% since their peak in 2005. Also of interest is that even though less than an acre lot sales slowed 25% between 2004 and 2005, lots sales greater than an acre increased 57% during the same time period. Thus, buyers of smaller lots (likely in a subdivision) began pulling back in 2005, but it wasn't until 2006 that buyers of larger lots started pulling back. 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 21, 2024 (unless otherwise noted).
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