Happy Friday, Friends!

What a whirlwind of a Spring this has been!  The local real estate market is moving pretty quickly in most price ranges right now, with new listings continuing to hit the market, many of which are then going under contract quickly.  

Personally, it's been a fun few weeks having run in the Park to Park Half Marathon a few weeks ago, followed by the Perfect Day 50K.  

For the past two years I have exercised (ha ha) questionable judgement and have run the entire 50K myself.  It's a 5K trail run (Western Slopes of Massanutten) every hour on the hour for 10 hours straight.  This year, I (probably wisely) opted to participate on a team of three.  Though... one teammate was under the weather and just ran one 5K, and I rolled an ankle after three 5K's... so teammate Luke had to run six of the 5K's.  Go Luke!  

Even more excitement lies ahead, as Emily will be graduating from high school (!!) in a few weeks!!!  Go Emily!  

A few more quick items before we dive into the data and a recap of the latest trends in our local housing market...

Home sales are up across the board -- with 119 homes sold in April 2026, a 12% increase over April 2025, and the 12-month total has climbed to 1,409 sales. The median sales price, though, has softened slightly, sitting at $345,000 for the past year compared to nearly $348,000 a year ago. Homes are also taking a little longer to find a buyer -- with a median of 9 days between listing and contract over the past 12 months versus 6 days last year. 

Let's look just at detached (single family) homes next...

April was a strong month for detached homes, with 81 sales compared to 66 in April 2025 -- an impressive (and surprising?) 23% jump. Zooming out to the full 12 months, though, detached home sales are actually down 5% from the prior year. The bright spot? Prices for detached homes are still moving up, with a 12-month median of $395,000 compared to $389,450 a year ago. This is a small increase in the big picture, but it is an increase nonetheless.

What about attached homes (townhomes, duplexes) during the same timeframe?

Attached homes slowed slightly in April, but overall are having a standout year. Sales over the past 12 months are up 25% compared to the prior year, with 563 sales versus 450. Prices, however, have stayed relatively flat, with the 12-month median at $313,430 -- up just a smidge (1%) from $310,432 a year ago.

Let's look at the month by month sales, visually...

As shown above, 2026 has gotten off to a busier start than 2025 in every month so far this year.  January through April of this year have all come in above last year's numbers -- an encouraging sign heading into the the rest of the spring and then summer market.

Here's another visual of this busier start to the year...

Through April, cumulative 2026 sales sit at 403 -- almost exactly matching 2024's pace of 402 at the same point in the year, and well ahead of the slower start of 351 last year. It's too early to tell whether this signals a full bounce-back to 2024 home sales levels or whether it is just a partial recovery in the early part of the year.

Now, let's look at those 12-month trend lines...

The two big takeaways from the rolling 12-month trend are pretty clear... more homes are selling, but prices have flattened out. Annual sales volume has climbed steadily back above 1,400 sales a year, while the median sales price has hovered right around $345,000 for quite a few months now. 

Looking just at detached homes, prices are increasing a bit more...

Detached home prices have risen dramatically over the past decade -- from $228,000 in 2018 to $399,000 today. The pace of appreciation has slowed considerably over the past two years, but prices are still inching upward. Meanwhile, the number of detached home sales remains well below the peak years of 2021 and 2022, reflecting the broader national pattern of fewer sales due to limited inventory levels and lower affordability given higher mortgage interest rates.

To predict the future a bit, let's look at recent contract activity...

Buyers are out there and they're writing contracts. April 2026 saw 145 contracts -- nearly matching March's high of 146 and well above last year's April figure of 134. Contract activity has consistently run ahead of or right at the four-year average so far this year, which bodes well for closed sales in the months ahead.

Meanwhile, what's the latest with inventory levels?

One of the more notable dynamics in today's market is that inventory levels have been running below last year's levels at every point in the year so far. With 170 active listings at the end of April -- slightly lower than the 176 listings at the end of last April -- buyers have fewer choices than they did a year ago. 

And what about those mortgage interest rates?

Mortgage rates have come a long way from their 2024 peak of 7.17%. The April 2026 average rate of 6.30% is meaningfully lower, and the overall trend over the past two-plus years has been gradually downward. Rates aren't as low as they were in the few years just after Covid, but the slow decline in rates is encouraging for buyers who have been waiting on the sidelines.

So... what does it all mean?

The current Harrisonburg and Rockingham County housing market is still quite active, reasonably healthy, and a bit more balanced than it's been in recent years. More homes are selling, buyers are often moving quite quickly to see homes and make offers, and mortgage rates are slowly improving. Home prices have leveled off a bit but don't seem to have dropped in any meaningful way. This is a market where both buyers and sellers can each find opportunities -- depending, as always -- on the property type, location and price range.

If you're thinking about buying...

1. Don't wait for rates to drop dramatically. Rates are trending in the right direction, but it doesn't seem certain that they will continue to fall further, and they could just as well increase a bit over the coming months.

2. Move quickly when you find something you love. Inventory is still lean -- only 170 active listings across the entire market -- and well-priced homes are still going under contract rapidly. If a home checks your boxes, let's view it quickly and consider making a strong offer in short order.

3. Maintain reasonable price expectations. Even though home prices are not rapidly increasing, that doesn't mean that they are declining or that you should expect to be paying considerably less than a list price.  Though, as always, that depends on whether the list price is reasonable.  :-)

If you're thinking about selling...

1. Price it right from the start. The market is active, but it's not the crazy home buying frenzy of 2021. Overpriced homes are sitting on the market for longer than most of sellers would have hoped. Realistically priced homes are selling quickly and attracting strong offers.

2. Presentation matters -- now more than ever. With buyers sometimes having a bit more breathing room than they did a few years ago, the homes that show well are the ones that stand out. A little investment in pre-listing preparations to your home can make a big difference.

3. Your timing is solid if you are ready to sell soon. Contract activity is strong, sales volume is up, and serious buyers are in the market. If you've been on the fence about whether to sell now or later, this is still a time when you can expect to see meaningful levels of buyer interest.

If you're thinking about buying, selling, or have other homeownership or market questions... I'd be happy to chat. 

You can reach me by phone/text at 540-578-0102 or by email here.

Have a delightful weekend!  

P.S.  Anyone running in the Rockingham Park 5K?  It's not too late to sign up.  ;-)