December 2015 Harrisonburg Housing Market Report


December 2015 Harrisonburg Housing Market Report
By Scott Rogers • December 10, 2015
Learn more about this month's Featured Property: 6600 Lawyer Road 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.... There is plenty to be excited about in this month's report on our local housing market.... Homes sales in November shot up 14.71% as compared to last November. More Homes Are Selling: year-to-date home sales are 5.8% above last year during the same time frame. Homes Are Selling At Higher Prices: the median price has increased 3.91% in 2015 as compared to the same time frame last year. The average sales price has also increased 3.24%. Homes Are Selling Faster: the median days on market has declined 16.67% in 2015 as compared to last year. Home sales are piling up in 2015 -- as shown above, the 1,039 home sales we have seen between January and November this year is well above the number of home sales seen anytime in the previous five years. The pace at which buyers are signing contracts to buy real estate is often an excellent indicator of the future sales performance of our local market. Curiously, we are seeing fewer people signing contracts in the most recent 12 months (1,168) as compared to the previous 12 months (1,186). Since closed sales are increasing, this likely means that more contracts are making it successfully to closing. Inventory levels are both up, and down. There are actually 2% more homes on the market now as compared to a year ago -- however, inventory levels have dropped by 6% over the past six months, as is typical for this time of year. 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. 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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