Only About Half of Home Buyers In The City Of Harrisonburg Buy Single Family Homes


Only About Half of Home Buyers In The City Of Harrisonburg Buy Single Family Homes
By Scott Rogers • January 19, 2022
Yesterday I observed that about two thirds of home buyers in our area (City of Harrisonburg plus Rockingham County) buy single family homes each year. In the City alone, it's a different story. Only about half of buyers in the City of Harrisonburg buy single family homes each year. The other half buy attached dwellings -- townhouses, duplexes or condos. That ratio of approximately half and half detached vs. attached has remained mostly consistent over the past decade. In fact, looking even further back... It appears that before the townhouse building boom of 2002-2007, it was closer to 60/40 with more buyers buying single family homes. As lots (and lots) of townhouses were built in the City of Harrisonburg between 2002 an 2007, the share of buyers buying townhouses increased significantly -- getting as high as 63% in 2005. Given the existing inventory of housing in the City it seems likely that this ratio now may stay around 50/50 for the foreseeable future unless we see some major new construction developments within the City with homes (detached or attached) for sale. 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 24, 2024 (unless otherwise noted).
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