Scott P. Rogers
Funkhouser Real Estate Group
540-578-0102  •  email
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Wednesday, September 14, 2016
Median Sales Prices

The graph above shows four periods of changes in the local median sales price....
  • 2000-2003: Normal Growth
  • 2003-2006: Unsustainable Growth
  • 2006-2011: Correction
  • 2011-2016: Recovery

Between the start of last decade (2000) and the peak of the housing boom (2007) the median sales price increased from $116K to $195K.  Then, the median sales price dropped all the way back down to 169,900 in 2011.

Now, in 2016, we are almost all the way back up to the 2006 peak of a median sales price of $195,100 -- with our current median sales price of $195,000.  Thus, if you bought in 2007, your home almost (-2.6%) be now worth what it was when you purchased it.