10% Of A Big Number Is... A Big Number!


10% Of A Big Number Is... A Big Number!
By Scott Rogers • November 8, 2022
Between 2020 and 2021, the median sales price of a detached home in Harrisonburg and Rockingham County increased by over ten percent! Between 2021 and 2022, the median sales price of a detached home in Harrisonburg and Rockingham County increased by over ten percent! I've told you about these back to back years of double digit increases enough times that you might not be surprised when you read the statements above. But, sometimes when we translate it into actual numbers, it can be surprising. Let's say a property was worth $460K two years ago. Based on the changes (+10%) in the overall market, that property may very well have been worth $506K last year. Based on the changes (10%) in the overall market, that property may very well be worth $556K today. Gasp! A house that was worth $460K two years ago is now potentially worth almost $560K today? An increase of nearly $100,000 in just two years!?! Indeed, these double digit increases in value can end up being very large increases in dollars when we start at a very high price point. 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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