Home sales increase 44% in September


Home sales increase 44% in September
By Scott Rogers • October 9, 2011
Click here to download my full, 27-page report on the Harrisonburg and Rockingham County real estate market, or read on for highlights.... The housing market in Harrisonburg and Rockingham County continues to show signs of stabilization and recovery: September 2011 home sales (79) were 44% higher than in September 2010 (55). 2011 year-to-date home sales are 2% higher than 2010 year-to-date. Median prices have decreased 4% over the past year. Days on market has increased 10% over the past year. The positive indicator here is that the pace of home sales is (finally) starting to increase, even though prices are still on a slight decline. Once the pace of home sales has been increasing for some time, we should see prices start to stabilize as well. While contracts were down slightly in September (67 compared to 74 last September), contracts year-to-date are up 15%. Yes, that's right, 15% more buyers have committed to buy properties this year as compared to last year -- indicating that we should see continued strength in closed home sales over the next several months. Helping to balance the housing market, inventory levels have declined 14% over the past year. After three years of declining sales pace and sales prices, both metrics are now increasing when examined from an annualized basis. If you have questions about the report, or if I can be of assistance to you with real estate that you own, or that you'd like to own, please be in touch. You can reach me most easily at 540-578-0102 or scott@HarrisonburgHousingToday.com. 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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