Local Housing Market Heats Up in June 2014


Local Housing Market Heats Up in June 2014
By Scott Rogers • July 7, 2014
Featured Property: 7894 McGaheysville Road, Penn Laird, VA I just published my monthly report on the Harrisonburg and Rockingham County real estate market and the local housing market started heating up in June 2014. Jump to the full online market report, download the PDF, or read on for highlights.... As shown above, there were several encouraging signs in June 2014.... June 2014 home sales were 14% higher than in June 2013. YTD home sales are 7% lower than in 2013 (an improvement over last month). Median sales prices are relatively stable (-0.13%). It is taking 5% less time (median days on market) to sell a home this year. Care for some even more exciting news? June 2014 home sales (108) were the highest month of June home sales seen anytime recently. Thus, the record high number of home sales in May and June is starting to make up for the disappointingly low number of home sales in March and April. Care for some even MORE exciting news? A record number of home buyers signed contracts in June 2014 -- marking an astonishing, surprising, remarkable 51% increase over June 2013. Now, a necessary return to a concurrent reality.... As shown above, despite strong sales in May and June, we're still tracking 7% behind the pace of 2013 home sales. We'll have to wait and see if the remainder of 2014 (spurred on by strong contracts in June 2014) can help us meet and/or surpass last year's count of 1,014 home sales. Further treats you'll find in my full market report (online or PDF) include.... Inventory is up 4.8% over last year. Long-term median sales prices continue to stay in the $173K-$176K range. Duplex, townhouse and condo sales prices continue to rise. One-third of homes that sold in the past year did so in less than 90 days. Nearly half (49%) of active inventory was listed in the past 90 days. Care to read about all of these juicy details (and more!) in my full 30-page market report? You can read it online or download the PDF. Also, 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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