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: Contract Activity In 2020 Is Somewhat Useless For Understanding 2021 Market Activity This Housing Inventory Crisis Is Likely YEARS In The Making I Just Sold My House. Should I Buy A House This Year Or Wait Until Next Year? Now Can Be A Great Time To Sell An Investment Property Are Inventory Levels Slowly Starting To Increase? I Should Definitely Sell My House Right Now To Take Advantage Of This Market Why In The World Are You Buying A House Without A Home Inspection?? I Will Offer You ONE MILLION DOLLARS For Your House... Oh, Contingent On An Appraisal... If Your Property Needs Improving, Do Not Price It As If It Does Not Over 4,000 New Homes Are Under Construction Or Being Planned In Harrisonburg, Rockingham County
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 Aug 04, 2021 (unless otherwise noted).
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