I just published my monthly report on the Harrisonburg and Rockingham County real estate market.  Jump to the full online market report, or download the PDF, or read on for highlights....



Here's the big news -- all of the data is in for 2014 and over the past year our market has seen....

• a 3% improvement in the pace of sales
• the highest number of home sales in the past seven years
  
• a 2% improvement in the median sales price
• the highest median sales price in the past four years
  

As is to be expected, there are significantly fewer homes on the market now as compared to this past summer -- buyers are choosing from 24% fewer homes today as compared to in July.  Year-over-year, however, inventory levels are trending up slightly (+1.7%).



It is certainly easier to find a townhouse/duplex/condo these days than a single family home.  Over the past year, inventory levels of single family homes have dropped 5%, while inventory levels of attached dwellings have increased 23%.



Foreclosures are significantly less of a problem in our local market (163 in 2014) as compared to some recent years (a peak of 270 in 2010).



Long-term mortgage interest rates continue to stay quite favorable -- currently below 4%, which has certainly contributed to plenty of buyer enthusiasm.

If you are buying or selling now, or will be soon, I encourage you to become a student of the housing market.  Learn what has been happening recently, what is happening now, and what is likely to happen next.  Being informed will allow you to make better real estate decisions.  You can continue your studies by reading the entire January 2015 market report online, or by downloading the PDF.

Also, 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.