Home Sales, Prices Rising in Harrisonburg, Rockingham County


Home Sales, Prices Rising in Harrisonburg, Rockingham County
By Scott Rogers • December 9, 2013
Featured Home: 1787 Broadridge Drive, Harrisonburg, VA I just published my monthly report on the Harrisonburg and Rockingham County real estate market -- and despite a slower than expected November, the full year of home sales data is still looking great. Click here to download the 28 page PDF, click here to read the full report online, or scroll down for some highlights. As shown above, November was a month of mixed indicators.... The 38% November-to-November decline in the pace of home sales was at least partly due to a sales oddity last November -- (22) $33K condos were sold via one transaction but were reported as 22 transactions. This makes November 2013 closings appear to be lower, in comparison, than they really are. Year-to-date sales pace is still well ahead (+14%) of last year. The significant (+23%) November-to-November increase in median sales price is because last November's median price was dragged down by (22) $33K home sales. Year-to-date figures still show an overall 2% improvement in home values based on properties selling last year and this year. It is taking less time (-15%) for homes to sell this year as compared to last year. Contracts declined rather unexpected in October, which could have been a slowing down of our overall housing market after a fantastic first 10 months of the year --- but with a bit more data to now work with, I believe contract numbers were low in October due to buyer uncertainty during the temporary federal government shutdown. As shown above, November contracts bounced back, showing a 57% improvement over last November. Inventory levels continue to decline in Harrisonburg and Rockingham County, with only 584 properties currently on the market --- a 22% decline from two years ago, and a far cry from the 1,000+ properties on the market a year or so before that. These declines in inventory are helping to balance the market between buyers and sellers. There is a LOT more the full report, so click here to download the full December 2013 Harrisonburg & Rockingham County Real Estate Market Report. An Important Caveat: Yes, our overall housing market is improving. But no, that does not apply equally to all price ranges, locations and property types. We can chat about your specific property to see whether that segment of the market is performing better or worse than the overall market. 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: 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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