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!
Let's take a look at how home sales have been trending at Massanutten Resort in recent years....
As shown above, home sales have been increasing at Massanutten Resort over the past five years, with the exception of a small decline in 2015. Of note -- there have already (as of 9/28/2016) been 52 home sales in 2016 -- so we are likely to see more home sales this year in Massanutten Resort than in any of the previous five years. The 64 home sales shown above for 2016 are an estimate based on year-to-date home sales (52) and the timing of sales in 2015.
Value trends over time at Massanutten Resort don't paint quite as clear of a picture, but it can certainly be said that home values have been, generally speaking, increasing over the past 5 - 6 years. Values dipped down a bit more than expected in 2014, jumped up a bit more than expected in 2015, and are where we might have otherwise expected them to be in 2016 if we hadn't had that odd low and odd high. This is a relatively small data set (40 - 60 home sales) which can cause some irregularities in value trends.
You can find homes currently for sale in Massanutten Resort here.
Let me know if you have any questions about the Massanutten Resort real estate market!
A brand new bike park with a lift system recently opened at Massanutten Resort, and Luke and I decided to go check out this past weekend. It was a blast! Admittedly, Luke crashed on his first run, sliding off of the side of a trail and tumbled down a rocky embankment (or a cliff, as the story is told) but he didn't break any bones and we had multiple successful runs later in the day, even if at a more moderate speed.
There are a variety of trails for different skill levels, and one of the most enjoyable aspects is that the ski lift will carry your bike up the mountain for you to start each run....
Read more about the new bike park via this Daily News Record article, a few excerpts of which are below....
The park features six trails along four levels of difficulties. Five are open for use and the sixth should be finished by the end of August, said Kenny Hess, Massanutten's director of sports and risk management.I expect that Luke and I will be going back again soon for another afternoon of biking and I encourage you to check it out as well. Plan your visit to the Massanutten Bike Park by checking out their hours, rates, etc. here.
Looking to purchase a home in Massanutten Resort? Understand the market first!
As shown above, there has been quite a bit more recovery of the Massanutten Resort market over the past five years than the overall housing market (Harrisonburg & Rockingham County). While City/County home sales may not hit 2013 levels this year, it appears that Massanutten Resort home sales will fly past last year's sales levels.
Despite increases in sales volume over the past several years at Massanutten Resort, home prices have not been faring as well. There has been an increase in the overall City/County median sales price over the past year, but no so in Massanutten Resort.
Interested in learning more about the Massanutten Resort housing market? Feel free to email me with questions, or explore homes currently for sale in Massanutten Resort.
As can be seen above, the pace of sales has recovered more quickly at Massanutten Resor than in our overall market.
While prices have fallen significantly over the past six years at Massanutten Resort (-26%) as compared to the overall market (-9%) the improvement over the past two years has been more rapid at Massanutten Resort (+4%) than in the overall market (-3%).
The significant declines in price (-28%) and sales pace (-48%) at Massanutten Resort between 2006 and 2010 were likely due to the significant decline in second home purchases as housing markets softened across the nation. I believe we will see continued recovery in the Massanutten Resort market over the next few years, though it might be many years before we return to median prices as high as we experienced in 2006.
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