As shown in the graph above, the median sales price for homes in Harrisonburg and Rockingham County has been stable (between $173K and $177K) for 23 months now.  Each of these data points shows the median sales price for a 12 month period, so they are solid, long-term trends.

Also shown above, our local market has seen a relatively steady increase in the pace of home sales for 20 months now.  Each of these data points shows the total number of home sales during the most recent 12 month period, so again, these are solid long-term indicators.

Bottom line?  While individual homes, neighborhoods or price ranges might still see some price adjustments, I do not believe we will see any further (overall) price declines in Harrisonburg and Rockingham County.
 
Read more in my most recent monthly housing market report.