Learn more about this month's Featured Property:  775 Confederacy Drive

I just published my monthly report on the Harrisonburg and Rockingham County real estate market.  Jump to the full online market report, or download the PDF, or read on for highlights....



After a wild and crazy month of August home sales (all 126 of them) the market cooled off a bit in September, showing a 13% decline in home sales. That said, the year-to-date pace of home sales is still 6% higher than it was last year -- and the median sales price has increased by 6% over the past year.  Finally, homes are selling faster -- the median days on market is down 17% as compared to this time last year.



As shown above, the Summer 2015 real estate market has been a bit of a roller coaster ride -- with high peaks in June and August, and slower sales in July and September.  I am sure that the ride will finish safely at the station in December -- but I haven't ridden this one before to know if there are more peaks, twists or turns to be experienced in October and November.



We are getting closer!  And closer!  And closer!  We're seeing fewer sellers in the market, and more buyers -- this means that our market is (finally!?!) approaching a balance.  We're already seeing it in some price ranges (particularly under $200K) but it will be good to see it in our overall market as well.



Just as we saw last year, inventory levels stayed relatively steady between the end of August and the end of September.  We are likely to start to see inventory levels decline much more quickly in the next 30 to 60 days.

OK, that's it for now.  I'll hit some high points here on HarrisonburgHousingToday.com in coming days.  In the meantime, you can read the full October 2015 Harrisonburg Housing Market Report online or by downloading the PDF.

And as is always my encouragement -- if you will be buying or selling a home in the near future, become a student of the housing market!  Learn what has been happening recently, what is happening now, and what is likely to happen next.  Being informed will allow you to make better real estate decisions.

If you are ready to buy or sell a property in Harrisonburg or Rockingham County, contact me at 540-578-0102 or scott@HarrisonburgHousingToday.com to get the process started.

Receive Updates by Email

Subscribe

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