Learn more about this month's Featured Property:  1344 Meadowlark Drive

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....



There were quite a few very positive overall market indicators this month, especially considering we are now working with all 1st Quarter home sales data....

1. The pace of home sales has increased 18% in 2015-Q1.
    
2. The median sales price has increased by 3% year-over-year to $177,125.
    
   
3. The time it takes to sell a home (days on market) has decreased by 12% year-over-year.

After a slightly slow start in January, both February and March home sales have been the best we've seen in the last several years.  April home sales also seem like they will end up being quite favorable compared to last April's home sales, especially because....



Buyers signed 25% more contracts in the first quarter of 2015 than in the first quarter of 2014.  This likely bodes well for the pace of closed sales in April and May of this year.



Overall, inventory levels are down 5% as compared to where we were a year ago -- but that statistic masks an interesting contrast:

• There are 12% fewer single family homes on the market today as compared to one year ago.
   
• There are 16% more townhouses, duplexes and condos on the market today as compared to one year ago.

For regular readers of my market report, you'll find everything a bit mixed up this month -- but hopefully the new organization will be more helpful for you as you study the market.  My monthly report is now organized into the following categories.....

OK, that's it for the summary -- read the rest of my market report online or by downloading the full PDF. 

And above all, if you will be buying or selling a home in the near future, 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. 

If you are ready to buy or sell a property in Harrisonburg or Rockingham County, contact me at 540-578-0102 or scott@HarrisonburgHousingToday.com to get the process started.