Harrisonburg, Rockingham County housing market continues to gradually improve with home sales up 2%, prices up 4%


Harrisonburg, Rockingham County housing market continues to gradually improve with home sales up 2%, prices up 4%
By Scott Rogers • May 9, 2012
Many aspects of the local housing market have improved over the past year, and there are signs that this gradual recovery will continue. As shown above, most market indicators are positive when looking back at recent real estate activity in Harrisonburg and Rockingham County: April home sales were lower than last April (-8.97%) but that was likely a result of many 2012 buyers committing to properties earlier due to our unseasonably warm winter. Year-to-date home sales have improved 2% over the same time period during 2011. We must continue to see increases in the pace of home sales for further strengthening of the local housing market. Median sales prices have increased 4% when comparing the first four months of 2012 to the first four months of 2011. The true test will be whether this increase in prices can continue throughout this calendar year. Average sales prices have also increased (1.3%) when comparing 2012-YTD to 2011-YTD. The average time it takes to sell a house (229 days) has increased slightly (from 218 days) when comparing 2012-YTD to 2011-YTD. As another sign of an improving real estate market, inventory levels have dropped 15% over the past year, despite recent seasonal increases. Long term trends shown above (rolling 12 month calculations for sales pace and price) also indicate that the local housing market is stabilizing (price) and starting to grow (pace). Also, despite prior warnings of potential increases, mortgage interest rates remain extraordinarily low. 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: 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 22, 2024 (unless otherwise noted).
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