It's a tough time to sell a building lot in Harrisonburg or Rockingham County. Before the real estate boom of 2003-2007, roughly 200 lots sold per year. In recent years, only 60 lots have been selling per year. However.....
- After peaking at 408 lot sales in 2004, lot sales took a huge plunge down to recent annual sales levels around 60 lots.
- Median prices also skyrocketed up to $100K, but have settled down in recent years to a median of around $55K.
- Sales are a bit slower than expected thus far in 2012, with only 17 lot sales in the first five months of the year.
The graph above represents lot sales reflected in the HRAR MLS of less than one acre. See a clearer version of this graph on Page 18 of this PDF.
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