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We’re one-third of the way through the third quarter of 2011. Can you believe it?! Last month, we reported in the August Market Report that the gap in residential sales was closing from last year to this year (in July, the difference in YTD sales was -6%, in August it was -2%). Well, we have great news… September’s numbers are in, and that gap has closed and moved into the positive! Sales in 2011 are up 2.2% over 2010 so far. Lets take a look at some of the other stats below.
[Click any image below to view larger version]
See that statistic in the top right corner of the chart above? It says 2.2%. That is a positive number in the YTD change in residential sales over last year! We’ve seen the same number of sales occur in September as we did in August, so the YTD stat reflects a higher number of sales this September over last September. Price per square foot (or home value) is down by 7.4%, unfortunately. As of now, it rests at $101.76, whereas last year at this time, it was $109.93. This number is down because sales prices are down. Buyers aren’t having to pay as much for homes this year as they did in 2010, so sellers are getting less, and values are still declining.
Above is a graphic showing how sales have occurred thus far in 2011, starting with just 39 sales in January, and moving up to 79 sales in September. We’ll likely see about the same number of sales in October as this past month, and then a decline in November and December as the holiday season sets in.
Contracts are also way up from last year at this time. We’ve seen an increase in contracts by 15.3%! This bodes well for the coming months as most of those contracts will close and be reflected in the sales charts later on. Comparing month-to-month, though, contracts are down quite a bit (21.2%). Folks are looking to buy larger homes this year, and those homes are sitting on the market for an average of 16 days longer.
As you can see in the graphic above, contracts held steady throughout the summer, and dropped in September. This is to be expected as fall usually comes with less production. The “busy season” for real estate is coming to a close, but we suspect we’ll see about the same number of contracts in October as we did in September, maybe a little less.
Stay tuned for next month’s market report! Until then, check out some other posts we’ve written about Market Trends…
According to our last post about the National Flood Insurance Program, the temporary extension ended yesterday. So, Congress has now passed (and the President signed) a bill reauthorizing this program prior to the program’s expiration. The Travelers Insurance Flood Team states, “The bill contains a short-term reauthorization that extends the statutory authority to issue flood insurance policies pursuant to the NFIP until November 18, 2011.”
So, if you need a flood insurance policy written up, now would be a great time to do so. Your insurance agent should have no problems writing new policies until November 18th.
Of course, many folks are working together to get this problem resolved once and for all. Stay tuned for more updates!
Have you ever seen Mama’s Caboose driving by, or stopped on the side of the road in Harrisonburg or Rockingham County? Established just weeks ago, this cheery red mobile kitchen serves up home cooked meals like Chicken Parmesan, Ham and Green Beans, and Steak and Cheese Sandwiches. The owner, Diane Roll, features one selection each week — a $20 meal for four — and is available for pick-up on Tuesdays or Wednesdays.
Mama’s Caboose can also be found at Monger Park in Mount Crawford serving the public from 11:00 AM - 2:00 PM on Wednesdays. (This park is located on Route 11, just North of what used to be Mrs. Rowe’s.) Lunch anyone?
Roll also caters from Mama’s Caboose, and serves meals to factories in the area. Flexibility is part of Roll’s business plan. She takes orders by any means — text, phone call, email, Facebook — and advertises the week’s menu (and future menus) on the Mama’s Caboose Facebook page.
Those who appreciate a good home-cooked meal can also take relief in knowing that all of the food prepared in Mama’s Caboose is minimally processed. Potatoes are cut by hand, meatballs are made by hand (no mystery meat here!), and everything is fresh.
Contact Info for Mama’s Caboose
540-908-0029 (call or text)
mamascaboose@gmail.com
Facebook
Another fantastic annual event hosted by Downtown Harrisonburg is coming up on October 21st — Block Party in the ‘Burg! This party is focused on introducing college students to Downtown Harrisonburg, and will be located at Turner Pavilion and the adjacent grassy lot. Time? 5:00 - 9:00 PM.
Students will have the opportunity to find out what Downtown Harrisonburg is all about and what the community has to offer, including restaurants (along with food samples!), entertainment options, and cultural offerings. Also during the event, local college bands will be showcased in “Battle of the Bands,” and attendees can vote for their favorites online.
Like scavenger hunts? Block Party in the ‘Burg is offering students the ability to participate in a scavenger hunt around Downtown using Foursquare. Bonus: there will be prizes!
Block Party in the ‘Burg
Turner Pavilion in Downtown Harrisonburg (where the Farmer’s Market is normally held) [map]
October 21, 2011
5:00 PM - 9:00 PM
Mount Jackson is located about half an hour north of Harrisonburg in Shenandoah County (near the Shenandoah Caverns). During the weekend of October 8 - 9, it will be well worth the drive to visit the Harvest Festival this year! This festival will take place in the Town of Mount Jackson, and will feature over 60 fine crafters, children’s activities, delicious food, and live entertainment.
The Harvest Festival is fun for the whole family! Admission is FREE and there is plenty of parking throughout the town during the event. Festivities begin at 10:30 AM on the 8th with a performance by the Stonewall Jackson High School band.
Event Details:
Mount Jackson Harvest Festival
Town of Mount Jackson, Virginia
October 8 - 9, 2011
Admission: Free
Parking: throughout town
If you’ve worked with a Kline May agent in the past few years, you know that after each transaction, the client receives a satisfaction survey. Kline May takes very seriously the opinions and feedback received from clients in these surveys. To date, Kline May Company (which includes Kline May Realty and Cottonwood Commercial) has over a 98.9% satisfaction rate for both buyers and sellers.
Our team, The Harrisonburg Homes Team, is part of Kline May Realty, and we also take very seriously the needs and wants of each of our clients — both buyers and sellers alike.
Because of this extreme care in customer satisfaction, the Company has surpassed $100 million in sales volume for 2011! (In 2010, this milestone was not met until 72 days later.)
Just a little tidbit, allowing us to toot our horn, for just a little while. Toot, toot!
Harrisonburg residents have long been known to hold the view that taking care of our environment is very important. As such, many have started using rain barrels, compost bins, solar energy, electric cars, etc. Well, the leaders of Harrisonburg have taken notice, and in October, Harrisonburg Electric Commission (HEC) will be providing a charging station to those with electric cars!
The new charging station will be located behind HEC in Downtown Harrisonburg, and yet again, Harrisonburg will be “on the map” because according to the press release from Downtown, it “will become the first city in the Shenandoah Valley and one of only a handful of cities in the state with a public, Level II electric car charging station.”
An unveiling ceremony will take place on October 5 at 10:00 AM in the HEC parking lot. There will be electric cars to test drive (including the Nissan Leaf and the Chevy Volt), as well as demonstrations of how the new charging station will operate.
This whole operation came together through a community effort, including a variety of Downtown businesses and organizations: HEC, City of Harrisonburg, Harrisonburg Downtown Renaissance, David Miller on behalf of the Downtown Dining Alliance, Virginia Main Street, Eaton Corporation, Virginia Clean Cities, and Rexel.
Harrisonburg Downtown Renaissance and the City of Harrisonburg have granted several businesses with facade enhancement grants this year. This grant program supports property improvements and has been able to stay in place, despite the state of the economy. In 2011, eight grants were awarded for a total of $20,000 in improvement funds.
These businesses will use the money to enhance the exterior of their businesses, which adds to the overall aesthetic of downtown Harrisonburg.
Want to learn more? Visit Harrisonburg Downtown Renaissance or the City of Harrisonburg.
Willow West is located in Dayton, Virginia, which is a few miles south of Harrisonburg, actually, but many residents commute the short drive to Harrisonburg for work. This neighborhood is tucked away on the northwest side of the Town of Dayton, and consists of two quiet streets — Willow Drive and Northview Street — each ending in a cul de sac.
Homes in Willow West are typically large Colonial or Cape Cod style homes, constructed with either brick or vinyl (or a mixture of the two). Most of these homes are situated on lots from about 1/3 to 1/2 acre in size, contain maturing trees, have garages, and several have front or wraparound porches. This neighborhood was established in the early 1990’s and there are still a few vacant lots left for those who would like the opportunity to build their dream home.
Some homes in Willow West have the most amazing views of the countryside and western mountains, and some even have views of Massanutten Peak!
In Willow West, you can find homes ranging in price from the mid $200,000s to the mid $400,000s, depending on the features included and how many upgrades the owner has made.
Quick Stats:
- Average List Price*: $300,950
- Average Selling Price*: $291,688
- Average Home Size**: 4 bedrooms, 3.5 bathrooms, 2601 square feet
- 2011 School Districts: John Wayland Elementary School, W S Pence Middle School, Turner Ashby High School
Links of Interest:
Map of Willow West:
* This data is for homes sold from 9/14/09 - 9/13/11. Pulled from the HRAR MLS.
** This data is for any homes ever listed in this subdivision. Pulled from the HRAR MLS.
Massanetta Springs was established in the early 1920s. The community arose out of the Presbyterian church’s desire to house families attending the Massanetta Springs Conference Center. Gradually, the homes were sold to private individuals and in 1999, the community incorporated as a separate residential entity. Today, residents may still enjoy the amenities the conference center has to offer. They can also make use of the swimming pool, basketball court, ball fields, walking trails, and boat rentals.
A couple weeks ago, I hosted an open house in this community and met some residents who were very friendly and they just couldn’t stop raving about living in this retreat-like community that is located so close to city conveniences. One lady who stopped by the open house (who was not a resident) described this cottage community as Massanutten Resort on a smaller scale, but located more conveniently to Harrisonburg.
During the summer months especially, Massanetta Springs is filled with campers who travel from all over to experience the conference center and other amenities. The residents that I met at the open house love the laughter they hear and the activities they see when the variety of camps take place. (No worries about noise late into the night because there are rules for keeping it quiet after a certain hour!)
Here are a few photos that I took while in the neighborhood…
Quick Stats:
- Average List Price*: $154,900
- Average Selling Price*: $121,000
- Average Home Size**: 3 bedrooms, 2 full baths, 1674 square feet
- 2011 School Districts: Cub Run Elementary School, Montevideo Middle School, Spotswood High School
Links of Interest:
Map of Massanetta Springs:
* This data is for homes sold from 4/6/10 - 4/5/11. Pulled from the HRAR MLS.
** This data is for any homes ever listed in this subdivision. Pulled from the HRAR MLS.
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