market statistics: Harrisonburg and Rockingham County Real Estate Market Report: September 2011
- 10/11/11 03:27 AM
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]
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market statistics: Harrisonburg Area Real Estate Market Report: August 2011
- 09/09/11 07:34 AM
For the past few months, we’ve been reporting that the Harrisonburg and Rockingham County real estate market is on the verge of some positive movement. In July, we saw that most of the June contracts hadn’t closed yet, and that sales year-over-year were down 6%. Well, the August numbers are in, and this month’s sales were up, and the year-to-date sales significantly increased as well, bringing that -6% to -2%. (The gap is closing!) Lets take a look at this month’s stats below.
Sales were up this month from last by 2.6%, and average days on market also improved from … (0 comments)
market statistics: National + Local Real Estate Markets In The News
- 01/28/09 01:09 AM
The National Association of Realtors reported that existing home sales rose 6.5 percent from November 2008 to December 2008. This a rare bit of good news for the national real estate market, which saw a drop in sales prices around 15% in from 2007 to 2008. Read more here. The local real estate market found its way into a front-page story in the Daily News-Record. The gist of the story is the same as one of our recent blog posts: home prices are stable in the Harrisonburg area. In that post I complained rather pointedly that such positive news does not … (0 comments)
market statistics: Is Now The Time To Buy A Home?
- 01/28/09 01:06 AM
Maybe. It is certainly a buyer’s market, which means that home buyers have the advantage in negotiations, as well as a broad range of choices. However, since it is a difficult market for sellers, our team’s counsel to inquiring would-be buyers is that they need to be reasonably confident that they will live in the home for a minimum of three years, preferably longer. (For certain properties, renting rather than selling is quite feasible.) For most people, this means they need to have job security. If there are rumors of major layoffs where you work, it would probably be best for … (0 comments)
market statistics: Fuzzy Math on Average Home Price? Or Not?
- 01/23/09 02:19 AM
As I wrote in a post a couple of days ago, home prices in the Harrisonburg area did not drop significantly in 2008. When I ask friends and clients how much they think prices have dropped, on average, from 2007 to 2008, the answer is reliably between 10% and 25%. On a $250,000 home, that would be $25,000 to $62,500! They are probably basing this guess on what they have heard and read in the news. Indeed, many cities across America had year-over-year declines in that range. When I tell them that prices in the Harrisonburg area have dropped less than … (0 comments)
market statistics: Shout It from the Rooftops — Home Values Have Not Dropped (Significantly)
- 01/23/09 02:15 AM
There’s no glossing over the fact that 2008 was a difficult year to get a home sold. The demand for homes decreased due to tightening loan requirements (which is largely a good thing) and a rather poignant feeling of caution among buyers. The sharply receding economy has produced those fears, along with bad news reports about the real estate market in particular. Supply levels have been boosted — at least nationally — by job losses and foreclosures. (But click here to see a previous post about low unemployment and foreclosure rates in the Harrisonburg area.) As a result, home sales in … (1 comments)
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.
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