Looking back over 25 years (above) we find the following types of trajectories in the median sales price in Harrisonburg and Rockingham County...
GRAY = 2% to 7% annual increase
RED = 8% or higher annual increase
BLUE = 1% annual increase, or no change, or annual decrease
And now, the question at hand... what will the next 1 to 5 years look like when it comes to our median sales price?
After four solid years of a red hot market (8% or more) between 2020 and 2023 we have now seen two years of moderate increases in 2024 and thus far in 2025.
My best guess is that we will see a prolonged spell of moderate (gray, 2% to 7%) increases in the median sales price.
Your thoughts?