Real Estate Market Predictions For Harrisonburg and Rockingham County


Real Estate Market Predictions For Harrisonburg and Rockingham County
By Scott Rogers • March 23, 2010
In talking to a Daily News Record reporter last week I made a BOLD PREDICTION, that the local housing market would probably NOT improve this year. I felt somewhat bad about making such a prediction --- being so pessimistic! But wait --- the BOLD part was predicting that it wouldn't get any worse! Since 2006, the pace of home sales has been declining: 2006 as compared to 2005: decline of 14% 2007 as compared to 2006: decline of 13% 2008 as compared to 2007: decline of 25% 2009 as compared to 2008: decline of 13% So.....while I'm not predicting that our real estate market will improve this year, I also don't think it is likely to get worse. That is to say that last year there were 816 residential sales in Harrisonburg and Rockingham County, and I am predicting that the 2010 sales figure will be very close to that same number. Check out the data: Sales between 1/1/2009 and 3/22/2009 = 124 sales Sales between 1/1/2010 and 3/22/2010 = 124 sales YES, THAT'S RIGHT --- an exactly equivalent sales pace Also of note, CBS's MoneyWatch made price predictions for all metro areas, and predicts only a 2.2% to 0.7% decline in sales price over the next year+. That would be welcome news to many in our local market who are hoping that prices do not decline any further than the small amounts that they already have. Receive Updates by Email Recent Articles: Will Your Offer Terms Cause The Seller To Say YES Or To Seek Other Offers? The Comfortable Feel Of An Established Neighborhood Might Come With, Surprise, An Older Home That Needs Some Updates Home Sellers And Buyers Will Often Disagree About Needed Updates You Cannot Hear Traffic On A Nearby Road By Looking At Photos Last Call (Just About) For Selling Your Home In 2024! Sometimes An Offer Is So Strong A Seller Will Not Wait For Other Imminent Offers If You Will Be Moving To Sunnyside, VMRC Or Bridgewater Retirement Community, We Should Talk Sooner Than Later Sometimes It Makes Sense To Just Adopt The Timetable The Seller Prefers Fewer And Fewer Resale, Detached, Homes Selling In City Of Harrisonburg The Next Owner Of Your Home Might Love Different Parts Of It For Different Reasons, And That Is OK!
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 01, 2024 (unless otherwise noted).
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