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Harrisonburg Real Estate Market Report - May, 2014
Click here to download Market Update charts for May 2014.


Well, it seems our local real estate market has finally shaken off the effects of the winter of 2013 – 14. While we cannot say for certain that the winter weather was the cause for our surprisingly slow start to the year, if we take a look at the Residential Sales per Month chart we can see a dramatic difference in sales as soon as the warmer weather appeared. The residential sales total of 99 units in May, in fact, surpassed last May’s total of 96 and is the highest number for the month of May since 2007. While individual monthly totals do not show us any kind of trend, this type of recovery is encouraging nonetheless. In terms of year-to-date sales, this year’s total through the end of May, 332, is 12.86% fewer than last year’s total of 381. I expect the 2013 vs. 2014 gap to continue to narrow over the next few months.
Perhaps even more encouraging than May’s sales are the 135 contracts buyers placed on homes in May. By far the highest monthly total for contracts this year, this is further evidence ... more

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