Recent Similar Home Sales In The Same Neighborhood Are Often The Best Indicator Of Home Value


Recent Similar Home Sales In The Same Neighborhood Are Often The Best Indicator Of Home Value
By Scott Rogers • November 8, 2021
What are the top three factors affecting home value? "Location, Location, Location" Or so the saying goes. But, really, the location of a property is key in understanding its value. A home with 1500 SF in one neighborhood in Harrisonburg will not necessarily sell for the same price as a home with 1500 SF in another neighborhood on the other side of town. A townhome built 20 years ago in one neighborhood will not necessarily sell for the same price as a townhome in another neighborhood that was built 20 years ago. As such... Don't be too hasty in drawing conclusions about the value of a house based on the sales price of houses in a completely different location or neighborhood. It is usually best to seek to understand the value of a home by first examining recent sales in the same neighborhood or location of the home in question. 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 22, 2024 (unless otherwise noted).
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