The Median Sales Price of Single Family Homes Has Risen 2 Percent in 2018


The Median Sales Price of Single Family Homes Has Risen 2 Percent in 2018
By Scott Rogers • October 12, 2018
The housing market is hot, right? Home values are rising quickly, right? Well, sort of, but maybe it's not exactly like that. As shown above -- over the past three years (between 2014 and 2017) the median sales price of single family homes has increased by 5%, 7% and then 5%. But during 2018 the median sales price has only increased 2% as compared to 2017. The increases in single family home sales prices seems to be slowing in 2018. If you thought home values had risen much more than 2% over the past year, it may partly be a result of the overall residential sales price having increased 8.42% over the past year (read more here) but that is mostly a result of a change in WHAT is selling (more single family homes) as opposed to a change in the prices for which those properties are selling. So -- if you could have sold your home for $300K last year, perhaps you can sell it for $306K this year (+2%) and you probably can't sell it for $324K this year (+8%). 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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