Sales Updates on Hunters Ridge Condos and Townhomes


Sales Updates on Hunters Ridge Condos and Townhomes
By Scott Rogers • June 3, 2011
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. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? 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
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 24, 2024 (unless otherwise noted).
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