Learn more about this month's Featured Property:  1730 Buckingham 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....



October 2015 home sales were a bit slower (-7%) than last October -- but year to date home sales (January - October) have increased 5% in 2015 as compared to 2014.  This increase in the pace of home sales has been accompanied by a 4% increase in both the median sales price and the average sales price -- and the time it takes to sell a home (median days on market) has declined by14% to 56 days.  So -- more homes are selling, more quickly, at higher prices.  Good news (for home sellers) on all three counts.



As shown above, October home sales on their own, fit into the middle of the pack as compared to the past few October's.  That said, 2015 has been a turbulent year over all -- with several months (June, August) hitting never-seen-before monthly high's -- and with some slower months as well.  Looking forward, the past two years have shown dreadfully slow months of November -- will we really see that much of a decline this year?  Or will sales stay a bit stronger this November? 



I greatly enjoy the graph above -- it most readily shows the overall improvement of the (YTD) home sales market over the past five years in Harrisonburg and Rockingham County.  Clearly, there was a significant recovery in the pace of sales between 2012 and 2013 -- but we have seen continued recovery in 2014 (barely) and 2015 (more significantly).



Inventory levels climbed ever so slightly (+1%) year-over-year in October -- and actually increased slightly from where we were a month ago.  We will likely see these inventory levels drop off over the next few months as we head into the winter market.

OK, that's it for now.  You can read further commentary in coming days on my blog, HarrisonburgHousingToday.com, or dive right into the full market report, which you can read online or download as a 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.
 

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