Virginia 2nd Quarter Market Report Shows That Yet Again, All Real Estate Is Local


Virginia 2nd Quarter Market Report Shows That Yet Again, All Real Estate Is Local
By Scott Rogers • July 28, 2009
The Virginia Association of Realtors released their 2nd Quarter Home Sales Report last week, which clearly demonstrates that all real estate is local -- that is to say that all local markets perform quite differently! The graph below shows the change in number of home sales in each local market in Virginia when comparing 2nd Quarter 2008 to 2nd Quarter 2009. Harrisonburg/Rockingham is actually one of the slowest markets in thestate, when compared to last year, with a 26.3% decline in the numberof home sales. Interestingly, there are several parts of the statewhere home sales are picking up speed again: Northern Virginia,Lexington / Buena Vista, Greater Piedmont and Fredericksburg. (clickon the graph above for a clearer, printable version) Next, below, we see that there is also a great deal of variation in median sales prices across Virginia. Harrisonburg is in the middle of the pack as far as changes in median sales price, with a -1.2% change in the last year (2nd quarter vs. 2nd quarter). As you can see, some areas of the state have seen a 25% (or more) decline in median sales prices, and some areas have started to see median sales prices increase again. In addition to the stats, you can also review the full (16 page) home sales report, or listen to the media conference call summarizing the report (listen carefully, and you might hear my commentary on the Harrisonburg / Rockingham market). 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).
Comments (3) or Subscribe