Home Buyers Show Up in Force in February 2011

69 properties went under contract in Harrisonburg and Rockingham County last month (February 2011) --- showing a 53% increase over last February. 

Moving beyond this startling good news, the question becomes (for many of my clients) what was it that actually sold in February!?

Contracts by Price Range:

• 33% under $150k (23 homes)
• 38% between $150k and $250k (26 homes)
• 20% between $250k and $350k (14 homes)
• 9% above $350k (6 homes)

Contracts by Property Type:

• 83% detached (57 homes)
• 17% attached (12 homes)

Days on the Market:

• 19% less than 3 months (13 homes)
• 25% between 3 and 6 months (17 homes)
• 42% between 6 and 12 months (29 homes)
• 14% more than 12 months (10 homes)

Location:

• 32% in the City of Harrisonburg (22 homes)
• 68% in the County (47 homes)

Finally, here are the actual properties that went under contract in February 2011.  So, what do you think, is this a sign that the market is improving?