Home sales and median prices on the rise in Harrisonburg, Rockingham County


Home sales and median prices on the rise in Harrisonburg, Rockingham County
By Scott Rogers • March 13, 2012
Good news! With two months of 2012 under our belts, our local housing market is showing signs of continued stability and growth. Click here to jump to the PDF of the full market report, or keep reading. As shown above, the pace of YTD home sales has increased 8% from 78 home sales (Jan-Feb 2011) to 84 home sales (Jan-Feb 2012). Furthermore, the YTD median sales price has increased 3%, and the average sales price has increased by 4%. After quite a few years of seeing declines in median and average sales prices, this is a welcome change!. The time it takes to sell a home, however, is still on the rise --- showing a 27% YTD increase. February 2012 was another strong month of buyer activity, with 80 buyers signing contracts to buy homes. This marks a significant 16% increase over last February -- and even comes close to the summer months of 2011. Remarkably, even now through the beginning of March, there are fewer and fewer homes for buyers to select from in our local market. Inventory levels have dropped 18% over the past year --- from 807 homes down to 665 homes. Typically we start to see an increase at this time of year, but I welcome these lower inventory levels, as it can help our market to continue to stabilize. After many years of a declining pace of home sales, we have now seen a reversal in this trend over the past eight months as the annualized pace of sales has increased from 706 sales/year to 800 sales/year. This is welcome news, and likely contributes to the relative stability in annualized median sales prices that we have seen over the past four months. There is plenty more to read, analyze and understand. Click here (or on the market report cover above) to download my full monthly market report. And -- if you have questions about the local housing market, 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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