January 2010 Harrisonburg and Rockingham County Real Estate Market Report: Prices Edge Down Slightly, Declines in Sales Pace Gently Slow


January 2010 Harrisonburg and Rockingham County Real Estate Market Report: Prices Edge Down Slightly, Declines in Sales Pace Gently Slow
By Scott Rogers • January 11, 2010
Home sales finished out at a respectable level in 2009, showing only a 13% decline from 2008 as compared to the 25% decline in sales pace seen between 2007 and 2008. The area's median price, however, slipped 5% -- the first decline in full year median values that we've seen in this troubled market. This past month's sales (67 in December) can't be used to predict too much in our market, because December sales were at roughly the same levels in 2007 and 2008 --- with significantly different months and years following those similar December values. That being said, five of twelve months in 2009 showed home sales at, above, or very close to the corresponding month in 2008. This may be an indication that the declining pace of home sales seen since 2005 may finally be slowing. The local year over year housing inventory has declined slightly, from 828 homes at the end of last December, to 792 homes for sale at the end of this December. That small decline, however, is still not enough of a decline to help the significant oversupply of homes for sale we have been experiencing for over a year. Read on, and dive into the details by reading the entire January 2010 Harrisonburg and Rockingham County Real Estate Market Report. Click the image below to download the PDF. If you find the information in this report to be helpful.... Feel free to share it with your friends or colleagues. Let me know if you'd like to meet to discuss this report and/or the particulars of your real estate situation. Let me know if you would like to schedule a time for me to come speak to your company or an organization in which you are involved. If you'd like to re-publish all or part of this information on your web site or in an article, just let me know if you need any additional information or graphics. If you'd like to know even more about the housing market in Harrisonburg and Rockingham County, click here to subscribe to HarrisonburgHousingToday by e-mail or by RSS. ThoughI spend a considerable amount of time analyzing our local housingmarket, the majority of my time is spent helping people like you buyand sell real estate. If you (or someone you know) will be buying orselling real estate sometime in the near future, I'd be delighted tohave the opportunity to be of service. 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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