Featured Property:  4105 Kaleb Drive, Penn Laird, VA 22846

I just published my monthly report on the Harrisonburg and Rockingham County real estate market and July 2014 showed incredibly high sales that ALMOST caught the 2014 YTD pace of home sales up with last year.

Jump to the full online market report, download the PDF, or read on for highlights....



First, of course, the leading story of the day --- July 2014 home sales (120) marked the highest number of homes sales in a single month seen anytime in the past 82 months.  The most recent month when there have been more than 120 home sales was....August 2007!



Looking a bit further (above) at our usual monthly indicators, it is important to note that despite strong sales in July, the year-to-date pace of home sales in 2014 (564 sales) is still 4% behind where we were at this time last year (587 sales).  This is likely a result of a slow start to 2014 with a particularly cold and blustery winter, though strong May, June and July home sales are helping the YTD numbers improve.

Also shown above, median sales prices are staying steady (-0.36%) and homes are selling more quickly than last year with an 11% decline in median days on market.



Inventory levels continue to trend upwards, with a 4.3% year-over-year increase -- though we are likely to start seeing the number of homes for sale start to decline in the next 30 to 60 days.



Median sales prices have remained relatively stable over the past few years, but as shown above, home values might secretly be increasing, as the median price per square foot has been quietly sneaking up towards $110/SF.

Further treats you'll find in my full market report (online or PDF) include....

1. Buyer activity increased 5% year-over-year in July 2014.
    
2. Townhouse / Duplex / Condo sales prices continue to rise.
    
3. We're seeing fewer and fewer foreclosures compared to home sales.
    
4. Buyers are finding less negotiability in list prices.
    
5. Over one-third (40%) of homes that sell do so within 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.
 

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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com