Featured Property:  4320 Wiltshire Street, Harrisonburg VA

I just published my monthly report on the Harrisonburg and Rockingham County real estate market -- click here to review the entire report online -- and here are a few highlights you might be interested to know about....



FEBRUARY SALES DECLINE

Perhaps as a result of the frigid temperatures, multiple snowfalls, and a record number of days without school, February home sales declined (to 51) below where we would expect them to be (67) based on last year's trajectory.



SALES, PRICES, DAYS ON MARKET DOWN

Due to a slow month of sales in February, year-to-date home sales are down 9.65% thus far in 2014 -- probably related to the weather. 

Median home prices also declined 5% over the past year -- probably related to the small sample size of only Jan + Feb data.

In (possibly) better news, the time it takes to sell a home (days on market) fell 8% over the past year -- this is either a signal of a quickening pace in the market, or related to the small sample size of only Jan + Feb data.



LISTING INVENTORY DECLINES AGAIN

Despite fewer sales in February 2014 (compared to last Feb) the overall number of active listings on the market DECLINED this month.  Either homeowners are taking their properties off the market ---- or the weather has delayed homeowners from listing their properties for sale.  Even though I was wrong a month ago when I said this, I really do expect we'll see an increase in inventory over the next 30 days.  Really.



TOWNHOUSE (DUPLEX, CONDO) MARKET GROWING QUICKLY

Every segment of the local housing market is different -- generalizations are helpful, but you need to dig deeper to see the facts that pertain to your property.  As shown above, the pace of townhouse sales has quickly increased over the past several years (+46% in 2 Years) and median prices have also shot up (+13% in 2 Years).



HIGH END MARKET BOOMING

I will repeat myself --- every segment of the local housing market is different!  As shown above, the high end market ($400K+) has seen a 139% increase in the pace of sales over the past year!

OK, enough highlights for now -- there is plenty more inside the full report. 

As always, if you're interested in talking to me about buying a home in Harrisonburg or Rockingham County.....or if you are interested in selling your current home.....just drop me a line by email (scott@HarrisonburgHousingToday.com) or call me at 540-578-0102.