Virginia 2nd Quarter Market Report Shows That Yet Again, All Real Estate Is Local


Virginia 2nd Quarter Market Report Shows That Yet Again, All Real Estate Is Local
By Scott Rogers • July 28, 2009
The Virginia Association of Realtors released their 2nd Quarter Home Sales Report last week, which clearly demonstrates that all real estate is local -- that is to say that all local markets perform quite differently! The graph below shows the change in number of home sales in each local market in Virginia when comparing 2nd Quarter 2008 to 2nd Quarter 2009. Harrisonburg/Rockingham is actually one of the slowest markets in thestate, when compared to last year, with a 26.3% decline in the numberof home sales. Interestingly, there are several parts of the statewhere home sales are picking up speed again: Northern Virginia,Lexington / Buena Vista, Greater Piedmont and Fredericksburg. (clickon the graph above for a clearer, printable version) Next, below, we see that there is also a great deal of variation in median sales prices across Virginia. Harrisonburg is in the middle of the pack as far as changes in median sales price, with a -1.2% change in the last year (2nd quarter vs. 2nd quarter). As you can see, some areas of the state have seen a 25% (or more) decline in median sales prices, and some areas have started to see median sales prices increase again. In addition to the stats, you can also review the full (16 page) home sales report, or listen to the media conference call summarizing the report (listen carefully, and you might hear my commentary on the Harrisonburg / Rockingham market). Receive Updates by Email Recent Articles: The New Flow Of Home Buying Decisions Strong Contract Activity In Local Housing Market, Again, In November Home Inspection Contingency Modifications Updates On Rezoning Proposals For Several Proposed Residential Communities Demand Is HIGH For Income Generating Properties Townhomes Now Under Construction In Phase Two of The Townes at Congers Creek Preston Lake Urgent Care Center Under Construction The Phoenix at Harrisonburg, A Senior Living Community, Viewed From Above Apartments That Look Like Townhouses Under Construction On Boyers Road Apartment Complex Under Construction On Boyers Road
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Dec 07, 2021 (unless otherwise noted).
Comments (3) or Subscribe