Home sales increase 44% in September


Home sales increase 44% in September
By Scott Rogers • October 9, 2011
Click here to download my full, 27-page report on the Harrisonburg and Rockingham County real estate market, or read on for highlights.... The housing market in Harrisonburg and Rockingham County continues to show signs of stabilization and recovery: September 2011 home sales (79) were 44% higher than in September 2010 (55). 2011 year-to-date home sales are 2% higher than 2010 year-to-date. Median prices have decreased 4% over the past year. Days on market has increased 10% over the past year. The positive indicator here is that the pace of home sales is (finally) starting to increase, even though prices are still on a slight decline. Once the pace of home sales has been increasing for some time, we should see prices start to stabilize as well. While contracts were down slightly in September (67 compared to 74 last September), contracts year-to-date are up 15%. Yes, that's right, 15% more buyers have committed to buy properties this year as compared to last year -- indicating that we should see continued strength in closed home sales over the next several months. Helping to balance the housing market, inventory levels have declined 14% over the past year. After three years of declining sales pace and sales prices, both metrics are now increasing when examined from an annualized basis. If you have questions about the report, or if I can be of assistance to you with real estate that you own, or that you'd like to own, please be in touch. You can reach me most easily at 540-578-0102 or scott@HarrisonburgHousingToday.com. Receive Updates by Email Recent Articles: Sales of Not New Homes Are Increasing Too New Home Construction Is Ramping Up in Harrisonburg and Rockingham County Reflecting On Large, Fast Changes In Mortgage Interest Rates Lake Shenandoah Stormwater Control Authority to Construct New Taylor Spring Detention Basin It Is Totally OK To Make Fast OR Slow Home Buying Decisions Inventory Levels Have Been Dropping For Almost An Entire Decade Home Sales Steady in 2022, Prices Still Rising Quickly! If Your Home Has Been On The Market For More Than __ Days And Is Not Under Contract, Ask Yourself Why! Generally Speaking, The Larger The Home, The Lower The Price Per Square Foot Is The Harrisonburg Housing Market Nine Percent Overvalued?
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 May 25, 2022 (unless otherwise noted).
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