If you believe in the mantra of buying low and selling high, now is a great time to buy a property at Hunters Ridge.  A variety of factors have led to a significant decline in sales prices in Hunters Ridge over the past several years, including:

• Significant overbuilding of student housing decreased the rental demand for properties at Hunters Ridge.
• Condo financing guidelines became much more restrictive, making it more difficult to finance a purchase at Hunters Ridge.
• Other sources of capital for Hunters Ridge purchases have dried up including equity in a JMU parents' primary residence, money in the stock market, etc.
  

So, how do things look in Hunters Ridge these days?



Condo sales are still extraordinarily slow, with only 6 in the past 2.5 years, as compared to the high of 50 sales in 2005.   Median sales prices have declined from $101K down to $48K.




Townhome sales picked up quite a bit last year with 14 sales, though there have not been any thus far in the first five months of 2011.  Median sales prices dropped from $145K down to $65K.


Here is the full data set for your enjoyment:



Do you need more information about student housing or multi-family housing Harrisonburg?  Call me at 540-578-0102 or e-mail me at scott@HarrisonburgHousingToday.com.