My Predictions for the 2021 Harrisonburg Real Estate Market Were Terribly Inaccurate


My Predictions for the 2021 Harrisonburg Real Estate Market Were Terribly Inaccurate
By Scott Rogers • January 3, 2022
It seems I have been much too conservative in my predictions for our local housing market over the past few years. After a 12% increase in the number of home sales in Harrisonburg and Rockingham County during 2020, I thought we'd see a much smaller increase in 2021. I predicted we would see 3% more home sales in 2021 than in 2020. In actuality -- we saw 11% more home sales in 2021! This was the second year in a row of double digit (12%, 11%) growth in the number of homes selling in the Harrisonburg and Rockingham County area via the HRAR MLS. And how about those sales prices? I was also terribly wrong on this prediction... Again, we saw a big increase in 2020 -- with a 10% increase in the median sales price -- which led me to believe we'd see a smaller (4%) increase during 2021. Not so. The median sales price increased another 10% in 2021 up to $270,000 in Harrisonburg and Rockingham County. So -- in summary -- my predictions were not at all accurate. While 100% of the data is not recorded yet, it seems we saw an 11% increase in home sales during 2021 and a 10% increase in the median sales price! Stay tuned for my predictions for the 2022 real estate market -- which -- might be just as inaccurate as my 2021 predictions!? :-) 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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