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!
click here for a larger version of this aerial image
If you have driven along Reservoir Street lately, you would have noticed the massive area on the hospital side or Reservoir Street where trees have been cleared for a new housing development. This site will soon be home to 700 college students in a new development called "The Retreat at Harrisonburg", being developed by Landmark Properties out of Athens, GA.
The developer has acquired 36.81 acres for $5.71 million in August after the land was rezoned in May to allow for this community to be developed. This same developer is (per their website) also currently developing The Retreat at Blacksburg, a student housing community for 829 students.
Read more about this purchase and development in this Daily News Record article....
Student Housing Developer Buys County Land
August 30, 2016
Here is the intended site plan....
Per documents submitted to the County, we know the following about this potential student housing community....
I'll take a look at how these prices per acre vary within different acreage ranges soon -- but for now, know that all 1+ acre lots that are selling in Harrisonburg and Rockingham County are selling at a median of $14,025 per acre. Last year's median of $9,932 was an odd departure from the previous several years.
Location, location, location. Build your new home in the Keister school district, immediately adjacent to Hillandale Park, where hiking and biking and other recreational opportunities abound. You will be in close proximity to the JMU campus and downtown Harrisonburg.
Three lots are being sold, as shown above....
If you are hoping to build a new single family home on a scenic hilltop (or in a rolling pasture) in Rockingham County, your options have recently expanded. Building a single family detached residence is now a permitted use in A1 zoned land in Rockingham County. Prior to the recent change in the zoning ordinance, you would have been required to file for a special use permit to build a single family home on A1 zoned land.
Thanks to Todd Rhea for the hot tip on this change in the zoning ordinance.
As shown above, the price (per acre) of land sales in Rockingham County is starting to improve in several price ranges.
Read on for more details on the pace of land sales....
As shown above, the pace of sales of 5 to 10 acre parcels is (slowly) increasing.
As shown above, the pace of sales of 10 to 20 acre parcels is also slowly improving.
The increase in the sales of 20+ acre parcels has steadily increased over the past few years.
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