Real Estate Showdown: Harrisonburg vs. Charlottesville


Real Estate Showdown: Harrisonburg vs. Charlottesville
By Scott Rogers • January 12, 2011
In a group discussion this morning about the Harrisonburg real estate market, someone wondered allowed about how the Charlottesville real estate market compared to Harrisonburg and Rockingham County over the past several years. Let's take a look, pulling from: January 2011 Harrisonburg & Rockingham County Real Estate Market Report (pdf) Charlottesville Association of Realtors 2010 Year-End Market Report (pdf) As you can see (above) the Charlottesville Area has not had as much of a decline in market activity (-39% since 2006) as we have seen in Harrisonburg and Rockingham County (-47% since 2006). Furthermore, the market activity in the Charlottesville area is closer to leveling out (only a 1.5% drop in the last year) as compared to Harrisonburg and Rockingham County (7.1% drop in the last year). As for median prices, the Charlottesville area fell further (12% drop from the peak to the trough) compared to Harrisonburg and Rockingham County (8% drop from peak to trough) --- however, the Charlottesville area (perhaps because of a faster price drop) has already started to see an increase in median prices (1% increase since last year) while Harrisonburg and Rockingham County continue to slowly decline (3% decrease since last year). Despite the drastic differences in sales volume and median prices, the two markets have had relatively similar trends over the past five years. 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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