Welcome! This blog tracks the real estate market in the Central Shenandoah Valley, featuring market data and analysis, an exploration of common buying and selling questions, and candid commentary on all things real estate.
If you are interested in discussing any of the topics on this blog, or the details of your specific real estate situation, call or e-mail me!
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This beautiful home is 2930 Brookstone Drive - check it out here!
Wow! March was a wild and crazy month in the real estate world in Harrisonburg and Rockingham County. Let's put it this way -- in the past three years, there have only been three months when more buyers have signed contracts than in March 2017! But I'm getting ahead of myself -- read on....
As you'd guess from the header image above, I have published my monthly market report, which you can download as a PDF, or read online. For the abridged version of the most important things for you to know, read on....
First -- for those that would rather listen/watch than read -- tune in to my monthly video overview of our local housing market....
And now, some general indicators of market performance....
Some basic notes from this general market overview:
As shown above, each month of 2017 (so far!) has barely surpassed the same month of the previous year. That said, we may be about to see a significant change in that trend because....
As shown above, homes were flying off the shelf (buyers were signing contracts) faster (slightly) than I can eat donuts from Peace, Love and Little Donuts. No joking, though, as noted above, the 140 signed contracts in March 2017 exceeds all but three months from the past three years. So -- it seems likely that we'll see a pop in April 2017 home sales!
With all of these homes selling, are we running out of homes for folks to buy?
Why yes, we are! There has been a 30% decline in the number of homes for sale over the past year. And -- get this -- if we look solely at homes under $200K, there has been a 50% decline in housing inventory levels!
OK -- so, more homes are selling, at higher prices, more quickly -- sounds good for sellers, right?
Yes, but I would still remind all sellers that even in a seller's market it is still essential to focus on price, condition and marketing.
If you're interested in even more market data, read my full online market report, download the PDF, or click here to sign up to receive my real estate blog by email.
Here are two handy references to prepare yourself to buy or sell a home....
Have any questions? Contact Scott Rogers at 540-578-0102 or email@example.com
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