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
Monday, October 21, 2024
Market Analysis
Just slicing and dicing the data one more time here... this is looking at only the City of Harrisonburg, only resale homes, and only detached homes -- no duplexes, townhomes or condos.

A few things to note...

We are seeing a steady decline in the number of these homes selling per year over the past three years.  The 2024 column (115) is only through yesterday -- so we'll see that number rise by the end of the year, but it's not likely we will end up seeing another decline in annual, existing, detached City home sales this year.

The median sales price of these homes keeps on rising... after a 7% increase in 2022 and 2023, the median sales price increased slightly less (4%) thus far in 2024.

As I have mentioned quite a few times, I believe this reduction in the number of buyers buying existing, detached, City homes is a result of a reduction in the number of sellers willing to sell their existing, detached, City homes.