City Homes Outperform County Homes


City Homes Outperform County Homes
By Scott Rogers • December 1, 2010
As I reported earlier this week, the single family home market in the City of Harrisonburg is improving, both in the number of homes sold, and the median price of those sold homes. There is also some good news in Rockingham County, but it's not quite as exciting. As you'll note above, more single family homes are selling in Rockingham County this year as compared to last year. The bad news is that they are selling for less --- there has been a 7% decline in median sales prices. What does this mean if you are buying or selling a single family home in Rockingham County? SELLERS: Know they market! If prices have declined 7% over the past year, you shouldn't be basing your list price on sales prices from a year ago --- unless you are then adjusting downward. Furthermore, consider making your list price compelling today rather than potentially selling at a lower cost 6 to 12 months from now. BUYERS: Make sure that you are comfortable with what you are paying for a house --- and that you are comfortable staying in that home for several years. Median prices will likely still decline a bit further this coming year (2011) before starting to level off and increase. 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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