It's a reasonable question!

The median sales price in Harrisonburg and Rockingham County has increased 10% per year for each of the past three years.  

Combining all three of those years together, the median sales price has increased 34% over the past three years.

In real numbers... the median sales price has jumped from $246,500 to $330,152 during that timeframe.

So, if you owned a $246,500 home three years ago, is your home worth $330,152 today?

Possibly.  But quite possibly, not.

The other variable hidden within median sales price trends is WHAT sells, beyond HOW MUCH it sells for.

For example (just an example - not real) if only tiny houses sold three years ago and only mansions sold this year, the median sales price would increase more than we might otherwise expect.

As a slightly real-er example, we have seen a steady increase in the share of new construction homes that are selling in Harrisonburg and Rockingham County over the past five years...

2019 - 13% new home sales

2020 - 15% new home sales

2021 - 19% new home sales

2022 - 26% new home sales

2023 - 26% new home sales

Given that new homes are almost universally more expensive than a comparably sized resale home, an increased share of new homes selling would push the median sales price higher than it would have been simply via changes in market values.

All that is to say... while the median sales price has increased over 30% during the past three years... your home might not have increased in value by 30%.

The median sales price is an evaluation of the prices at which particular homes sold and is not always a reasonable substitute for overall changes in market values.