Our local housing market remained relatively stable in January 2012, showing some indicators that we will continue the new trend we saw in 2011.  To remind you.....

In 2011, after a five year slide (and a 55% drop) in the pace of home sales, our local real estate market showed a 4% improvement in the pace of home sales last year, even though the median sales price declined another 3%.

Jump to the PDF of my monthly market report, or keep reading for an overview.



Important trends to note:

• Home sales declined slightly (by one sale) in January 2012 as compared to last January. 
  
• The median sales price increased by 18%.  (because of a small data set?)
• The average sales price declined by 1%

Inventory levels continue to decline (as shown above) with a 14% decline over the past year, and an overall 17% over the past two years.

Perhaps one month of data is too small of a data set to draw some conclusions --- otherwise we'd think our market has REALLY recovered, as the median sales price increased 11% when comparing 2011 to January 2012.

For a more detailed look at the Harrisonburg and Rockingham County real estate market, download my full market report as a PDF.

And -- if you have questions about the local housing market, 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.