Find out about this newly listed custom-built home with amazing views: 973SmithAvenue.com.

I just published my most recent monthly market report, and as usual, you can read on for an overview, download the full report as a PDF, read the entire report with commentary online, or tune in to my monthly video overview of our local housing market...



Now, let's dive into some of the latest data from our local real estate market....



As shown above, most market indicators are quite positive....

1. Home sales rose 3.19% in March 2018 to 97 sales as compared to last March.
    
2. Year-to-date home sales are up 3.02% this year as compared to last.
    
   
3. The annual pace of home sales has slipped, slightly, down 4.3% to 1,268 home sales.
    
4. The median sales price has risen 4.17% over the past year to $200,000.
    
5. Homes are selling 39.22% faster this year than last with a median of 31 days on market.

As shown above, after the strongest February in recent memory (maybe ever) we then saw the strongest March as it relates to the number of homes selling each month.  Where might we be headed from here?  105 home sales in April?  150 in May?  The busier months of home sales are quickly approaching.



Two important items to note above....

1. This is the first time (ever!) we have seen an annualized median sales price of $200,000 in Harrisonburg and Rockingham County.  We have climbed to new heights as far as local home values.
    
2. After some recent declines in the annualized pace of home sales activity, it seems that sales activity may be leveling out and perhaps increasing in pace again.

One last tidbit....

As shown above -- contract activity declined slightly in March 2018 -- but -- wait for it -- year-to-date (Jan-Mar) contract activity is still 3% higher than last year.  So -- perhaps we will still have a reasonably strong month of closed sales in April and May after all.

OK -- I'll stop there for now.  Again, you can download the full report as a PDF, read the entire report with commentary online, or keep reading my blog in the coming days for further commentary.

AND -- if you're thinking of buying or selling soon ---

SELLERS -- even though it is a seller's market in many price ranges right now, you must still focus on price, condition and marketing.

BUYERS -- it can be difficult and frustrating to buy right now -- make it a bit easier for yourself by knowing the market, knowing the process, knowing your buying power, and closely monitoring new listings!

For further reading on buying or selling in this area, check out....

• BuyingAHomeInHarrisonburg.com


• SellingAHomeInHarrisonburg.com

And if you are ready to get the process started, simply contact me at 540-578-0102 or scott@HarrisonburgHousingToday.com.

Enjoy this cold-again, hot-again month of April!