Analysis
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The State of Our Local Housing Market |
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Despite continued turbulence in many real estate markets across the country, the Harrisonburg and Rockingham County housing market continues to perform well, with stable values, despite a continued decline in sales pace. Many housing markets across the country have experienced net losses of 30% - 50% in housing values over the past three years. Harrisonburg and Rockingham have seen only a 2% downward shift in housing values over the past three years, as measured by the median price of sold residential properties per the Harrisonburg/Rockingham MLS. The Central Shenandoah's diverse economy has remained very stable in most sectors over the last several years, and our area's continued low unemployment rates have allowed our housing market to continue to perform well. While there are still those in our local community that are seeking employment, our local unemployment rate has been below the state and national rate for many years. This employment stability gives local home buyers confidence in moving forward with their housing purchases. While it hasn't created an enormous, market-altering boost in sales, the $8,000 credit to first time buyers has allowed many hopeful homeowners to buy over the past few months in Harrisonburg and Rockingham County. The $8,000 is returned to the home buyer when they file their 2009 taxes, but can also be used as a down payment or closing costs in some cases. Of note, time is now running short for those hoping to take advantage of this $8,000 first time buyer tax credit. The deadline for closing on a home under this government program is November 30, 2009, and the financing process generally takes 45 to 60 days to complete. In addition to low unemployment, and the $8,000 first time buyer tax credit, very low foreclosure rates in our local market have also contributed to stability in home values. Home values increased quite rapidly between 2003 and 2005 in Harrisonburg and Rockingham County, but did not increase fast enough and far enough to push large numbers of buyers into risky loan programs. In many other high priced areas of the country, buyers purchased homes using extremely risky loan programs during the market boom, which led to high foreclosure rates in those areas during 2007, 2008 and 2009. These foreclosed homes then re-entered the market and sold by the new owners (the banks) at values much lower than pre-existing market values. Since Harrisonburg and Rockingham County have such a low foreclosure rate, these few home sales have not significantly affected local housing values. Thus, it seems that our local housing market has experienced the lesser of two evils. Most local homeowners are glad that they have not seen 30% - 50% declines in the value of their home, yet the drastic decline in the number of homes that sell per year makes it difficult to sell a home in a timely fashion. Interestingly, many of the market that experienced huge drops in home values have now seen the pace of home sales increasing yet again. Prospective buyers in today's market ought to research home values carefully in the neighborhood(s) where they may buy, and shouldn't buy if they will need to sell again within a one to two year time period. Hopeful sellers in today's market should price and market their home aggressively to maximize the chances that it will sell amidst very high inventory levels. | |
City of Harrisonburg Land Use Analysis |
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To better understand land use in our fine community, here is a basic breakdown of the 15,075 parcels of land in the City of Harrisonburg.... Zoning Distribution (Parcels)
Residential Density (Parcels)
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Size Distribution of Harrisonburg Land Parcels |
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A few weeks ago I examined the size distribution of land parcels in Rockingham County, and was asked whether such data existed for the City of Harrisonburg. It does! As you'll see below, most (92.5%) land parcels in the City of Harrisonburg are less than an acre in size. Here are a few other interesting tidbits about land parcels as a whole in the City of Harrisonburg:
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Rockingham County: Value Down but Assessments Up??? |
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Rockingham County is currently in the process of reassessing all real estate in the County. When the new assessed values are sent to property owners, there is bound to be some distress and consternation, as assessed values will increase (in many cases), yet homeowners know that home values have been decreasing over the past few years. First, have home values decreased over the past few years?
So, why will many assessed values going up?
As a point of interest, property owners should actually be retroactively grateful that they are (only just) now seeing this increase in their assessed values. Here is the tax burden over five years for the median value of homes, given that reassessments only occur every four years:
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Everything You Need To Know About The Residential Real Estate Market In Harrisonburg & Rockingham County |
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Below you will find an embedded version of my August 2009 report on the residential real estate market in Harrisonburg and Rockingham County. SUMMARY: The pace of home sales continues to slow, home values continue to stay relatively steady, and thus we haven't turned the corner yet to head back to more hopeful times. Click here to access a larger version, download a PDF, share it with a friend, etc. Do you have questions? Suggestions for other analysis? Do you disagree with the perspectives I offer? Feel free to leave a note in the comments section, or e-mail me at Scott@HarrisonburgHousingToday.com. Enjoy! | |
Measuring Asking Prices By Assessed Values In The City of Harrisonburg |
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I showed four homes in the City of Harrisonburg this afternoon to one of my buyer clients, and as my clients and I viewed the homes we sensed a very strange relationship between asking prices and our perception of their value. That is to say that we didn't sense much of a correlation between what the owners were asking for the houses and what we thought they were worth. To explore the relationship (somewhat) objectively, I thought I'd compare the asking prices to assessed values. But first, here is how sale prices and assessed values compare for the last three sales in the City of Harrisonburg between $240k and $260k. Sold properties are selling for 97% of assessed value --- based on an unreasonably small sample size of three properties:
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A Casual Examination of Foreclosures in Harrisonburg and Rockingham County |
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For almost a year now, I have been posting information about scheduled foreclosures (Trustee Sales) in Harrisonburg and Rockingham County to HarrisonburgForeclosures.com. In the more recent past I have been compiling some basic details on these scheduled foreclosures, an analysis of which is presented below, but first let me explain why this is only a "casual examination" of foreclosures. HarrisonburgForeclosures.com offers information on scheduled foreclosures, not just those that actually are foreclosed upon (some Trustee Sales never take place.) Thus, this analysis is based on properties that are headed towards foreclosure, but isn't just based on those that are actually foreclosed upon. Click here to view a larger version of this document As you may have imagined (above) most of the properties are in Harrisonburg (which includes Harrisonburg-addressed Rockingham County properties, and is the largest area in the County). Coming in behind Harrisonburg are Elkton, Broadway and McGaheysville. This next document examines when these homeowners purchased the home that is now being (possibly) foreclosed upon... As you can see, the vast majority of these homes were purchased in 2005, 2006 and 2007. This should serve as no significant surprise, as that was when loan requirements were being pared down and pared down, such that anyone with a pulse could obtain a mortgage. These lax guidelines resulted in some people owning homes that weren't really in a financial situation that would allow them to consistently pay their mortgage. I'll update this analysis from time to time, but one thing that you ought to be sure to remember is that (thankfully) Harrisonburg and Rockingham County have an extremely low rate of foreclosure as compared to other parts of the country. This is wonderful news, as it has not negatively skewed our home values as has happened in many larger metropolitan areas. For more details on upcoming foreclosures, visit HarrisonburgForeclosures.com. | |
Size Distribution of Rockingham County Land Parcels |
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Rockingham County, Virginia (not including the City of Harrisonburg) is comprised of (approximately) 46,600 parcels of real estate. Some of these lots or tracts are very small, in towns such as Grottoes, Dayton or Elkton. Others are quite expansive and are in the far flung corners of the County. Below is a visual representation of the distribution of lot sizes of those 46,600 properties --- you might need to click on this link to view the full size document for easier reading. Here's the summary:
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If You're Buying A Big Or Expensive Home, Will It Be In The City of Harrisonburg, or Rockingham County? |
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Every five years (or so) the Harrisonburg Redevelopment and Housing Authority conducts a detailed analysis of City housing. In 2005, S. Patz & Associates, Inc conducted the analysis, available here: Citywide Housing Analysis for Harrisonburg, Virginia. One interesting "housing issue" that is identified as affecting the City of Harrisonburg was identified in the 2000 analysis, and re-confirmed in the 2005 analysis: "The loss of new construction of higher price new homes to sites in Rockingham County, while the City continues to attract only more modest single family detached and attached homes." I had never considered that this might be occuring --- that most higher price new homes were being built in Rockingham County instead of in the City of Harrisonburg --- but it makes sense, because undeveloped land is generally quite scarce in the City of Harrisonburg. To confirm (or reject) this conclusion, let's take a look at the homes that have sold each year since 2000, that were built within 3 years of when they were sold (thus, new-ish homes).... First, here's the break down of where all of these homes sold.... You'll note that the majority of the new-ish homes that were sold (and thus purchased) where in Harrisonburg, as opposed to in Rockingham County with a Harrisonburg address. Now, let's look at "large" new-ish homes, those with 2500+ square feet.... Here we do indeed find the phenomenon that the report described --- almost all of the large (and thus expensive) homes were built just outside Harrisonburg, and not within the City limits. Of note --- the City of Harrisonburg identifies this phenomenon as an "issue" because.... "An objective for the City is to help support development of higher priced/higher rent housing to provide a better mix of housing types and income levels in the City." For even more reading, read the full housing analysis! | |
July 2009 Harrisonburg & Rockingham County Real Estate Market Report |
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Embedded below is my full report on the Harrisonburg and Rockingham County real estate market as of July 2009. Click the link below to read the report, and please use the comment section below to provide me with feedback or to ask any clarifying questions. July 2009 Harrisonburg & Rockingham County Real Estate Market Report Click here to download the full report as a PDF. | |
Virginia 2nd Quarter Market Report Shows That Yet Again, All Real Estate Is Local |
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The Virginia Association of Realtors released their 2nd Quarter Home Sales Report last week, which clearly demonstrates that all real estate is local -- that is to say that all local markets perform quite differently! The graph below shows the change in number of home sales in each local market in Virginia when comparing 2nd Quarter 2008 to 2nd Quarter 2009. Harrisonburg/Rockingham is actually one of the slowest markets in thestate, when compared to last year, with a 26.3% decline in the numberof home sales. Interestingly, there are several parts of the statewhere home sales are picking up speed again: Northern Virginia,Lexington / Buena Vista, Greater Piedmont and Fredericksburg. (clickon the graph above for a clearer, printable version) Next, below, we see that there is also a great deal of variation in median sales prices across Virginia. Harrisonburg is in the middle of the pack as far as changes in median sales price, with a -1.2% change in the last year (2nd quarter vs. 2nd quarter). As you can see, some areas of the state have seen a 25% (or more) decline in median sales prices, and some areas have started to see median sales prices increase again. In addition to the stats, you can also review the full (16 page) home sales report, or listen to the media conference call summarizing the report (listen carefully, and you might hear my commentary on the Harrisonburg / Rockingham market). | |
History Repeats Itself: The Cyclical Nature of Student Housing in Harrisonburg |
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Harrisonburg has a tremendous over-supply of student housing, but it's not the first time! I've been engaged in some fascinating reading (thanks JGFitzgerald!) over the past day or so --- a Citywide Housing Analysis for Harrisonburg, Virginia compiled by S. Patz & Associates, Inc in 2005. Yes, it's becoming dated, but it provides some valuable insights into the history of our local real estate market. Here are a few statements that are quite interesting within the current JMU enrollment and student housing context: "Official JMU projections of 112 additional enrollments per year by 2008 suggest a need for no more than 200 new student apartments by 2010." Wow --- and to think that in the past two years, new student housing units have been built to accommodate an additional 3,292 students!?! "In the early-2000's there was a large oversupply of apartments catering to students. Development of condominium units for students aggravated the market for rental student units. Both markets are largely distinct, and only a few of the apartment complexes that attract students also attract young professionals and/or families. Since the early-2000's, apartments catering to students have also turned to other markets, such as the emergent immigrant population who can utilize the large numbers of bedrooms in student apartments, and the oversupply of student apartments has been reduced." This is interesting --- in the early 2000's there was an oversupply, then things were back to being balanced by 2005 (date of report), and we again have a significant oversupply in 2009. This report identifies immigrants as a population that filled the vacant student housing in the early 2000's. Will we see that again? And if not, who will fill the vacancies? "In the 2000/01 school year, 1,700± beds (or 450 to 550 apartment units) for JMU students were reported by S. Patz & Assoc. to be vacant and available. This total had been reduced to 1,000± beds in 2001/02, as student enrollments increased, and as a number of mature former student apartment units were taken off the market and made available for very moderate-income poultry and construction workers who previously occupied less attractive or more crowded housing." Again --- this begs the question of who will fill the anticipated 2,470 empty "beds" this coming fall that are/were intended for college students. If you're interested, there is a lot more very interesting data in this 129-page Citywide Housing Analysis report published in 2005. I'll be taking a look at some additional sections in the days to come. | |
Is the Massanutten Home Sales Market Over or Under Performing the Harrisonburg Market? |
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In response to my monthly home sales report, Keston asked... I'm guessing that even within Rockingham County that market conditions vary by locale. I was wondering if you have the ability to calculate the months of housing supply for Area 1 (Harrisonburg City) and Area 12 (Massanutten Resort). My hunch is Harrisonburg City is faring better than Massanutten. Let's take a look....at Massanutten, as well as other towns in Rockingham County... Right off the bat, we see that Keston is correct. It would take 13.7 months to sell the housing inventory in Harrisonburg & Rockingham County -- but when examining Massanutten alone, it would take 25.7 months -- nearly twice as long. The other outliers are Dayton and Grottoes which are performing much better than the market as a whole, and Timberville which is performing very poorly (perhaps because of the small sample size). Click on the graph above or on the data chart below for a printable PDF of the data. | |
Slower Home Sales, Stable Home Values per the June 2009 Harrisonburg & Rockingham County Real Estate Market Report |
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I hope you enjoy this brief overview of the June 2009 market report... Read on for a full review of the state of the Harrisonburg and Rockingham County residential real estate market. Or....download the full report: June 2009 Harrisonburg & Rockingham County Real Estate Market Report While the pace of home sales continues to decline (25% lower in 2009 than in 2008), the median and average sales price continue to stay relatively steady in our local real estate market --- showing a 2.5% decline (median) and 0.2% decline (average) when comparing the first six months of 2008 to the first six months of 2009. Our market continues to out-perform most other markets in Virginia, evading the 20% - 40% loss in home values seen in many areas. In this graph, we see that 2009 sales volume (purple line) is still hovering well below 2008 sales volume (blue line) --- but we are seeing the predictable seasonal increase in home sales during the summer months. The remainder of 2009 will be interesting to observe, as many first time buyers close on properties prior to December 1st to obtain the $8,000 tax credit. July always takes a slight dip, so we'll see if that holds true for 2009. This graph captures all residential real estate activity as reflected in the Harrisonburg/Rockingham MLS. The 2009 year-to-date sales figures now include six months of sales data, and show only a slight decline in median sales prices ($195,500 to $190,000). They sales volume (yellow bars), however, continue to decline. When examining only single family home sales in Harrisonburg and Rockingham County we see that the median sales price continues to decline at a relatively slow rate (1%, 4%, 3%) when comparing 2009 to 2008 -- the good news is that single family homes (as a whole) aren't losing value as they are in many other markets. When examining only townhome sales in Harrisonburg and Rockingham County we note that while the sales volume has dropped dramatically since 2005 (-18%, -15%, -37%), the median sales price has gained during that time period (2005 vs. 2009) and has stayed relatively steady between 2006 and 2009. This graph shows a normalized trend of home sales by charting the ongoing sum of the preceding 12 months' sales. We continue to see a decline in this metric, and likely will until the pace of sales stops its decline. Inventory levels have stayed relatively level over the past three months, and have declined as compared to a year ago (932 vs. 956). Lower inventory levels will (slowly) lead to a healthier local real estate market, as a balance between buyers and sellers returns. With inventory levels holding steady, the number of months of supply of homes in the three lower price ranges noted above has stayed relatively steady. We continue to see an increase in supply of $400k+ homes as compared to the sale pace of these homes. After a relatively sharp decline in median price per square foot between 2008-Q2 and 2008-Q4, we have now seen an increase over the past two quarters in this metric. This may be any early indicator of the stabilization of our local market, as the price that buyers are willing to pay per livable space stabilizes. The chart above examines time on market for homes sold in Harrisonburg and Rockingham County during the past six months. Homes with the lowest price points are selling the quickest, and homes in the upper price ranges are taking the longest time to sell. For example, overall only 11% of homes took longer than 1 year to sell, but 26% of homes selling over $400,000 took longer than a year to sell. Of note, the average days-on-market has actually declined since last month's market report. Last month's report showed an average of 193 days, compared to the new overall average of 188 days. When examining new single family homes in our local market, we see a steady decline since 2005 in the number of homes that are selling (yellow bars) accompanied by a slow decrease in the median price per square foot since 2006 (green line). Of note, the current median price/sf is still well above the 2005 level. The graph above depicts the number of lots (less than 1 acre) selling in Harrisonburg and Rockingham County since 2000. We continue to see only a small number of buyers in the market for building lots, with only 14 such closings having occurred during the first six months of this year. Land sales (tracts larger than 1 acre) have also markedly decreased since 2005, but aside from the spike of activity in 2005, the pace of these land sales remained relatively constant between 2002 and 2007. Last year, and the projected figures for this year show that there are very few buyers in the market for land at this time. Download the full report here: June 2009 Harrisonburg & Rockingham County Real Estate Market Report | |
Which segment of our market is more stable? Expensive homes or starter homes? |
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If you ask most people, you'll be told that starter homes are a much more stable segment of our market right now --- and that the higher end market is definitely doing much more poorly. As it turns out, both markets are performing well, depending on how we examine the issue. Starter homes are performing well! As you can see in the chart above, there is a much healthier supply of homes below $200,000 than in any other price range. Put a few other ways:
*** 2009 total sales figures are extrapolated from Jan 1 - June 15 data. Of note, the decline in home sales in our market has not affected all price/size ranges in the same way. Since prices change over time (homes shift into different price segments), I examined the change in pace of home sales by dividing our market into starter homes (0 - 1499 SF), mid-range homes (1500 - 2500 SF) and large homes (2500+ SF). You'll note that:
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May 2009 Harrisonburg & Rockingham County Real Estate Market Report |
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View a video introduction to the May 2009 Real Estate Market Report: Read on for a full review of the state of the Harrisonburg and Rockingham County residential real estate market. Or....download the full report: May 2009 Harrisonburg & Rockingham County Real Estate Market Report The four most commonly referenced measures of our local housing market (sales volume, median sales price, average sales price and average days on market) are all in worse shape in May 2009 than they were a year ago. However, the median sales price is likely the most meaningful of the measures, and it continues to show a decline of only 3% when comparing May 2008 to May 2009, or when comparing January-May 2008 to January-May 2009. In this graph, we see that 2009 sales volume (purple line) is still hovering well below 2008 sales volume (blue line) --- but the gap closed slightly in May as compared to March and April. Perhaps we are seeing a normalizing trend, and sales volume in June, July and August of this year will be much closer to 2008 sales levels. Greater stability will return to our market when sales volume stops declining. This graph captures all residential real estate activity as reflected in the Harrisonburg/Rockingham MLS. The 2009 year-to-date sales figures now include five months of sales data, and show only a slight decline in median sales prices. Of note, the median residential sales price has not significantly changed since 2006. When examining only single family home sales in Harrisonburg and Rockingham County we see that the median sales price continues to decline at a relatively slow rate (1%, 4%, 7%) when comparing 2009 to 2008. Amidst these slight declines, the pace of sales (yellow bars) continues to decline drastically. When examining only townhome sales in Harrisonburg and Rockingham County we note that while the sales volume has dropped dramatically since 2005 (-18%, -15%, -37%), the median sales price has gained during that time period (2005 vs. 2009) and has stayed steady between 2006 and 2009. This graph shows a normalized trend of home sales by charting the ongoing sum of the preceding 12 months' sales. We continue to see a decline in this metric, and likely will until the pace of sales stops its decline. Of note, inventory declined slightly between the end of April and the end of May. This is great news for the overall health of our market, as it will reduce the high inventory levels and slowly start to balance out our market. This is a surprising trend for the early summer months! With inventory levels holding steady, the number of months of supply of homes in each price range noted above has stayed relatively steady. Of note, this is the first month that any of these trend lines have crossed, as can be noted between the $200k-$300k and $300k-$400k lines. The median price per square foot of all single family homes sold since 2002 in Harrisonburg and Rockingham County shows that homes have started selling at a somewhat higher rate over the past several quarters when examining their cost per functional space. The chart above examines time on market for homes sold in Harrisonburg and Rockingham County during the past six months. Homes with the lowest price points are selling the quickest, and homes in the upper price ranges are taking the longest time to sell. For example, overall only 10% of homes took longer than 1 year to sell, but 26% of homes selling over $400,000 took longer than a year to sell. In contrast, only 13% of these homes over $400,000 sold in the first three months, while 37% of homes selling for less than $200,000 sold in the first three months of being on the market. When examining only new single family homes in Harrisonburg and Rockingham County, we can see a steady decline since 2005 in the number of such homes that are selling (yellow bars) accompanied by a slow decrease in the median price per square foot since 2006 (green line). The graph above depicts the number of lots (less than 1 acre) selling in Harrisonburg and Rockingham County since 2000. The last several years have been unbelievably slow for lot sales, likely because many builders have been holding back on starting construction on new homes given the trends in the residential sales market. Land sales (tracts larger than 1 acre) have also markedly decreased since 2005, but aside from the spike of activity in 2005, the pace of these land sales remained relatively constant between 2002 and 2007. Last year, and the projected figures for this year show that there are very few buyers in the market for land at this time. Download the full report here: May 2009 Harrisonburg & Rockingham County Real Estate Market Report | |
New Construction Price Per Square Foot Trends in Harrisonburg and Rockingham County |
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For some time I have been tracking price per square foot trends for all single family homes in Harrisonburg and Rockingham County. These appear in my monthly market report, and show a median price per square foot of $80/sf back in 2002, a high of $131/sf in 2006 and a current value of $123/sf. In talking to a potential developer last week, he inquired about price per square foot trends for new construction. This isn't an easy thing to calculate, for several reasons:
Below you will see the results, with a starting value of $99/sf in 2002, a high of $150/sf in 2006, and a current value of $140/sf. I also graphed the number of applicable home sales in each year since 2002 to put the market into perspective. Click here, or on the image above, for a clearer PDF version of this graph. Closing thoughts:
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Exploring Home Value Trends in Harrisonburg and Rockingham County (again) |
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The questions continue:
I'll be issuing my May report in the new few days, but in the meantime I thought I'd explore the big value questions again from a few perspectives. Here's what I found: Median Homes Prices Decline When now examining January through May, we see a median home value of $215,000 (still) for 2008, but a median value of $205,000 for 2009. How did we drop $10k when comparing Jan-Apr 2009 and Jan-May 2009? Smaller and less expensive homes sold in May 2009 (avg = $197k, 1906sf) as opposed to during the first four months of 2009 (avg = $240k, 2048sf). So....despite Jan-May 2009 median home prices being down compared to the same months in 2008, perhaps it is because smaller (and less expensive) homes are selling? Larger Home Market Outpaces Smaller Home Market The data above suggests that perhaps median home values are declining because smaller homes are selling right now. Not so fast! During Jan-May 2008, 39% of homes that sold had 1500 or fewer square feet. This declined in 2009 to only 35% of homes sold during Jan-May 2009. During Jan-May 2008, 21% of homes that sold had 2500 or more square feet. This increased in 2009 to 26% of homes sold during Jan-May 2009. These are relatively small differences, and they may not be significantly, but they refute the hypothesis that median home prices are declining because smaller homes are selling. Are First Time Buyers Procrastinating? The data above is a bit surprising to me --- I suspected that we would see an increase in "starter homes" (often less than 1500 square feet) because of the financial incentives currently available for first time buyers. The combination of an $8,000 tax credit, plus historically low interest rates is predicted to bring lots of first time buyers into the market. These first time buyers don't seem to have shown up in large numbers so far, based on the slower sales in the most affordable price range. Price Per Square Foot Declines As one last look at home values, I thought I'd take a look at the average price per square foot of the single family homes sold in Harrisonburg and Rockingham County in Jan-May 2008 versus Jan-May 2009. Last year we saw an average price per square foot of $130 during this time frame, as compared to $118 per square foot this January through May. Making it Actionable To obey my own imperative, here are a few thoughts on how this might affect you and your real estate decisions:
A far more detailed analysis of our local real estate market will be available in the next few days. Until then, wrestle with the data points above, and let me know if you have any related revelations or hypotheses. | |
Actionable Statistics |
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In a meeting last week with a potential client, I was asked a great question amidst showing off some of my recent market report: "You have very pretty charts and graphs, and it's great that you have this report, but so what?? Can these statistics actually help your clients make better decisions?" What a great point --- it's marvelous to have lots of interesting analysis of market data, presented in an easily comprehensible format --- but how do we transform it into something that actually helps my clients make better real estate decisions. Here were/are my responses:
And by all means, if you see data analysis or reporting on this blog that is not providing actionable information or statistics, call me out! I'd like to make them actionable for you! | |
Web Traffic Continues to Grow: Could This Be THE Month? |
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We've experienced several years of significant declines in sales activity in Harrisonburg and Rockingham County.
However, we (Coldwell Banker Funkhouser Realtors) continue to see a strong increase in the number of properties being viewed on our collection of (65) web sites. This is often a leading indicator of forthcoming sales activity. So, I'll remain optimistic for the last 10 days of this month and see where we end up. So far this month there have been 45 home sales in our market, and last year during the same time period there were 46 home sales. Perhaps we'll catch up with last year this month, and then stay ahead or surge ahead!? | |
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Scott Rogers
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