Learn more about this month's Featured Property:  787 Confederacy 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....



Good news -- after a a slightly slow July 2015 (16% fewer home sales as compared to July 2014) we saw the market pick back up again in August 2015 -- showing a 13% improvement over August 2014.  This has contributed to the 8% year-to-date improvement in the pace of sales in Harrisonburg and Rockingham County.  As noted above, the median sales price has also increased by 7% thus far in 2015 -- and the average sales price is up 5% as compared to this time last year.



As noted in the headline, August home sales (all 120 of them) marked an eight year high for August home sales in Harrisonburg and Rockingham County.  This was after a slightly slower July.  Looking at the entire summer, here's what we find....

• Jun-Aug 2012:  284 home sales
  
• Jun-Aug 2013:  334 home sales
  
• Jun-Aug 2014:  342 home sales
  
• Jun-Aug 2015:  361 home sales

Most housing market analysts consider six months of inventory (active listings) to be an indicator of a balanced market (between buyers and sellers).  The "BUYERS" trend line above is illustrating how many buyers are buying in a six month period.  The "SELLERS" trend line above is illustrating how many sellers are in the market (active listings) at any given time.  As you can see, our market has been seeing a steady increase in buyers in the market and a decline in sellers in the market -- and we are almost to a balanced market.

And, as shown above, inventory levels keep marching downward.  It's typical for this time of year, but not the most exciting news for home buyers who are selecting from a smaller and smaller pool of prospective properties.

OK, that's it for now.  I'll hit some high points here on HarrisonburgHousingToday.com in coming days.  In the meantime, you can read the full September 2015 Harrisonburg Housing Market Report online or by downloading the PDF.

And as is always my encouragement -- 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.