Our local housing market continues to slowly and steadily recover:
- October home sales increase 32% over last October (ok, not so slow).
- YTD home sales are 8% over last year.
- The median sales price is finally not falling --- it shows a 1% YOY increase.
- Days on Market continues to increase (+6%)
October 2012 was a fantastic month of home sales, with 74 home sales, compared to only 62 last October. This October, in fact, was the best October in at least 3 years. The remainder of the year (Nov, Dec) should continue to show strong sales figures based on many buyers contracting on homes in October. (download the full report for details)
Inventory levels continue to decline, helping to bring our local housing market close to being in balance. An over-supply of sellers and under-supply of buyers in recent years has caused many of the less-than-exciting market conditions of late. It is a positive sign to see inventory declining steadily over the past 12 and 24 months.
There's lots more inside! Click above (or here) to download my full local housing market report for November 2012.
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.
Oh, one last thing....here are a few articles I have written over the past month that might be of interest:
- Taking your house off the market for the winter? Act now!
- Median Price Per Acre in Rockingham County
- Explore 22 Townhouse Communities in Harrisonburg, VA
- More residential development on Port Republic Road
- Are all (price) segments of the local housing market recovering equally? Maybe not.
