Clearly, the under $200K market is extremely tight right now -- with a sharp (65%) decline over the past two years.  Some of this is the lack of availability of this housing because more people want to buy these homes than sellers want to sell them -- and some is a result of increases in property values over the past two years, resulting in some "just under $200K" homes becoming "just over $200K" homes and falling into the next price bracket.

As shown above, there has also been a significant (45%, 43%) drop in housing inventory levels between $200K-$300K and $300K-$400K.  The only stable price range has been the "over $400K" price range where there are just about the same number of homes for sale now (58) as there were two years ago (55).

I expect that inventory levels under $200K will drop even lower over the next 12 months

You can find out more about the Harrisonburg and Rockingham County real estate market by visiting....