For many sellers, this is a challenging real estate market.  For buyers, of course, it can be a wonderful time (lots of selection, lots of negotiating power).  But back to the sellers --- you might wonder if we're in this alone, or if other parts of Virginia are seeing similar trends and conditions as we see here in Harrisonburg and Rockingham County. 

It's o.k. to take a peek --- here's what you'll find:

Almost everyone, including Harrisonburg, is seeing a decline in the number of homes being sold.  Of the 21 markets being measured, only 3 saw an increase in sales --- though Harrisonburg's 23% decline was worse than the overall decline of 13% across the state.

Most areas are seeing median price declines, but not Harrisonburg!  Out of the 19 markets being measured, 12 showed a decrease in median sales price.  Harrisonburg showed no change (increase or decrease).

A large majority of areas are seeing average price declines, including Harrisonburg!  Out of the 22 markets being measured, 18 showed a decrease in average sales price, including Harrisonburg's 6% decline.

The stats above are pulled from the Virginia Association of Realtors' 2nd Quarter home sales report.  You can review the entire report, or the stats supporting the report.  Please do note that this report is based on 2008 second quarter stats, as compared to 2007 second quarter stats.