Comparing My 2019 Housing Market Predictions To Reality


Comparing My 2019 Housing Market Predictions To Reality
By Scott Rogers • January 7, 2020
As shown above, I was slightly (just slightly) too optimistic about the pace of home sales that we would see in Harrisonburg and Rockingham County in 2019. I was predicting that we'd see a 2.2% increase to 1,325 home sales -- and we only saw a 1.6% increase to 1,317 home sales. So -- pretty close -- we did see a slight increase in the pace of home sales, and it was less than the 3% that we saw in 2018. Just as I observed last year -- even though we had low inventory levels all year long, buyers still found homes to buy -- which created a slight increase in the pace of sales, and a further decline in "days on market" in 2019. If I was ever-so-slightly too bold in my prediction as to the pace of home sales, I was too conservative in my prediction as to the change in median sales price we'd see during 2019. I was predicting we'd see a 2.4% increase to a median sales price of $217,000 -- and we actually saw a 5.7% increase to a median sales price of $224,000 in 2019. This is similar to the 6.9% increase that we saw in 2018. So, we did see a smaller increase (5.7% is smaller than 6.9%) during 2019 than we saw in 2018 -- but it was still a larger increase than has been seen in most recent years. Stay tuned for some predictions for 2020 in the coming days! Receive Updates by Email 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
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 23, 2024 (unless otherwise noted).
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