Strong Home Sales (+21%), Improving Prices (+3%) in Harrisonburg, Rockingham County


Strong Home Sales (+21%), Improving Prices (+3%) in Harrisonburg, Rockingham County
By Scott Rogers • August 7, 2013
I have just released my August 2013 monthly market report covering the Harrisonburg and Rockingham County housing market. Click here to download the full report as a PDF, read on for some highlights, or click here to view more details on the cover home, 1032 James Place. The big picture indicators in our local market are all positive when we look at January through July home sales in Harrisonburg and Rockingham County.... As shown above: Home Sales are up 21% compared to last year. (Median) Home Prices are up 3% compared to last year. (Median) Days on Market is down 12% compared to last year. Assuming you are hoping for a strengthening local housing market, these are all great news for our local area. Below you can see the reason why the year-to-date home sales figures are so strong.... As you can see, above, the past four months of home sales (Apr, May, Jun, Jul) have been much stronger than any of the previous three years --- with the one exception of June 2010 when the federal home buyer tax credit expired. What, you might ask, should we expect for the next few months? Based on the trend in signed contracts, shown above, I believe we will continue to see strong home sales over the next several months. It is also important to note that it's not just the short term indicators that are positive in our local housing market.... Each of the data points on the graph shown above takes 12 months of data into account --- thus these trends take a long time to show any substantial change, but they are excellent indicators of the overall shifts in a housing market. As can be seen, above, we are seeing steady growth in the pace of home sales, and stability in home values. There is a LOT more in my full report, including.... Inventory levels decline 7% year over year. Median prices on the up-swing Foreclosures slow in 2013. The List Price to Sales Price Ratio is edging up. Click here to download the full August 2013 Harrisonburg and Rockingham County Real Estate Market Report. And as always, if you're interested in talking to me about buying a home in Harrisonburg or Rockingham County.....or if you are interested in selling your current home.....just drop me a line by email (scott@HarrisonburgHousingToday.com) or call me at 540-578-0102. 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 23, 2024 (unless otherwise noted).
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