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
Thursday, June 4, 2020
High end home sales (over $600K per this analysis) have been quite strong over the past five years. To put it into context...
- 2010 - 2015 = average of (7) sales per year over $600K
- 2016 - 2018 = average of (15) sales per year over $600K
- 2019 = 27 home sales over $600K!
- 2020 YTD = 13 home sales, so perhaps up to 27 again this year?
Also of interest is if we look at an even higher price point...
The graph above shows home sales over $750K and as is evident, we usually see only 1 or 2 home sales per year in this price range -- but in 2015 that surged to 8 home sales, and last year it surged again, up to 10 home sales!
I suppose it is also important to note that these price ranges are a small portion of our local housing market.
In 2019...
- 1,297 home sales under $600K (98% of buyers)
- 27 home sales over $600K (2% of buyers)
Thus far in 2020, this high end segment of the market (over $600K) seems to be performing similarly to 2019 -- though the $750K+ market seems to be returning to normal level after an extraordinarily strong 2019.
