New Construction
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Half of All Homes Listed For Sale in the Past 10 Days Were New Homes, or To Be Built Homes |
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 If you want to buy a home, great news... there have been 100 homes listed for sale over the past ten days! Oh, but wait. :-) Half of those homes were new homes or to-be-built homes, mostly in these neighborhoods...
So... [1] Great news that new homes are being built. Lots of people want to buy homes -- more than there are homeowners who want to sell their homes -- so it's great that new housing inventory is being built. [2] If you don't happen to want to buy a home in one of these new neighborhoods (based on location, property type, size, price, etc.) then you don't actually have 100 new listings from which to choose... it's really only 50. | |
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Where Are All Of These New Proposed Residential Developments Located? |
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 There are approximately 1,700 new homes being built or to be built in active residential developments... ...and approximately 4,400 new homes planned or proposed in residential developments that are not yet actively being developed. Where are they all located? You'll find an interactive map of them here... You'll find additional details about the developments here... Let me know if I missed anything on the list. | |
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Missed Another Resale Home? Maybe Build A Home Instead? |
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 An age-old question is whether to buy a re-sale home or build a new home, especially as your price range gets above $500K or $600K.
Typically, the tension between buying vs building is one of: 1. Goals 2. Money 3. Timing If you build, you can get the house you want, but you'll pay more for it and it will take a lot of time and attention. 1. Goals = Win 2. Money = Lose 3. Timing = Lose If you buy an existing home, you won't get exactly what you want, but you will pay less for the house and the process will not be as much of a drain on your time. 1. Goals = Lose 2. Money = Win 3. Timing = Win Don't let my oversimplification of this issue fool you -- this is something that buyers can get stuck debating for months, or even years, often while looking at resale homes to try to convince themselves to buy instead building. AND -- two current market conditions are making it an even more complicated decision...
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New Homes are an Increasing Share of Total Home Sales in the Harrisonburg Area |
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 First, some raw data... Resale Home Sales:
So, there have been more and more resale homes selling over the past five years. New Home Sales:
There have also been more and more new homes selling over the past five years. The graph at the top, though, tells a third story -- an increasing portion of home sales are new home sales. Between 2017 and 2020 new home sales comprised 12% - 14% of all home sales. Then, in 2021, that jumped up to 19% new home sales. Thus, last year, approximately one in every five homes sold was a new home. This would seem to be good news, generally, as there is an ever increasing number of people who want to buy homes and make Harrisonburg their home -- so we'll need to see more new homes to help provide that housing. | |
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73% Of Homes Being Planned or Proposed for the City of Harrisonburg Are... Apartments! |
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 There are lots of new residential communities being planned, discussed or proposed in the City of Harrisonburg. As shown above, most will be apartments. Below is a brief overview of planned or proposed residential housing developments in the City of Harrisonburg. Keep in mind that some of these proposals are quite recent and some have been around as possible developments for quite a few years. It is uncertain or when any of these will actually take shape and be developed.
Did I miss anything? What should be added to the list, updated on the list or removed from the list? You can find more details about most of these developments (and about many in Rockingham County) in list form here and map form here. | |
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Where Were New Homes Built In 2021? |
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 Quite a few new homes were built in Harrisonburg and Rockingham County in 2021, contributing to the increase in overall sales in 2021. Above you will find the nine neighborhoods where five or more new homes were built/sold in 2021 as per the HRAR MLS. South Peak (52) - duplexes in McGaheysville, built by Ryan Homes, now sold out Shady Creek (39) - single family homes and townhomes in Grottoes, built by Ryan Homes, still being built and sold Brentwood (32) - single family homes just outside the City, still being built and sold Preston Lake (31) - single family homes, duplexes and townhomes being built just outside the City, still being built and sold Crescent Ridge (29) - townhomes just outside the City, still being built and sold Sunset Springs (27) - single family homes in Broadway Congers Creek (26) - townhomes just outside the City, still being built and sold Bridgewater Fields (11) - townhomes in Bridgewater, still being built and sold Founders Way (9) - condos in Harrisonburg, now sold out | |
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Where Are New Homes Being Built? |
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 OK, this is surprised me a bit. Before I pulled the data, I assumed more new homes were being built in Rockingham County than in the City of Harrisonburg... but wow... this was much more extreme of a difference than I had anticipated. As shown above, during 2021 there were 284 homes in Harrisonburg and Rockingham County per the HRAR MLS. Of those...
So... 96% of all new homes are being built in the County right now! Did this surprise you? :-) | |
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Updates On Rezoning Proposals For Several Proposed Residential Communities |
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 A few updates today on proposed residential communities in Harrisonburg and Rockingham County...  Harrisonburg's City Council approved the development of a six story apartment complex on Peach Grove Avenue. The prior approval allowed for one level of commercial space which was converted to more apartments in the updated approval. This development is now planned to be a 460 bedroom apartment on 5.44 acres.  The Rockingham County Board of Supervisors tabled a request for a rezoning that would have allowed for 95 townhouses at Massanutten Resort.  The intended developer of a proposed 155 home neighborhood in McGaheysville withdrew their request for a rezoning to allow for the development.  The Rockingham County Board of Supervisors approved a rezoning request to allow for an additional apartment building at the Altitude apartment complex. | |
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Townhomes Now Under Construction In Phase Two of The Townes at Congers Creek |
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 view larger photo here Have you driven by The Townes at Congers Creek lately? These newly built townhouses are located on Boyers Road just minutes from Sentara RMH Medical Center. (full disclosure - I represent the builder) The first phase of The Townes at Congers Creek is complete, with 26 townhomes plus a common area including a pavilion, patio, fire pit and basketball hoop. Construction is now beginning on townhomes in the second phase, and the first 20 townhomes are already under contract. Here's a view of the current site work under way on the second phase...  view a larger photo here Learn more about this exciting townhouse community by viewing current availability, walking through the model home, viewing the standard features and upgrades. If you have questions, or if you'd like to schedule a time to view the model home in person, call/text me at 540-578-0102 or email me. | |
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Preston Lake Urgent Care Center Under Construction |
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 If you have drive by the Exxon at the corner of Stone Spring Road and Spotswood Trail lately you have likely seen the building under construction next door. That building will be... an Urgent Care Center. In the site plan submitted to the County it was called Preston Lake Urgent Care Center... ...though per the County tax records, the property is owned by MPB INC out of Norfolk, which seems to be a branch of Sentara. I'm sure more details will come to light as construction wraps up in the coming months. | |
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102 Apartments Proposed On Apple Valley Road |
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Driving down Port Republic Road, from the County towards the City, you'll spot a tall apartment building on the left side of the road where you'd turn to go to Moe's Southwest Grill. This apartment complex -- Altitude Apartments -- opened in 2019 and features 140 apartments and a clubhouse. The current owner of Altitude Apartments is asking the County to rezone 2.7 acres of adjacent land to allow for an additional apartment building with 102 apartments on five levels. This new apartment building is planned to include:
The complex will be marketed towards undergraduate students, graduate students and young professionals. Below you'll see the existing building in yellow and the proposed new building in red...  Finally, here's a rendering of what it will look like if you're standing next to the first building, looking down the road towards the new building...  Find out more about this proposed development in the County's full rezoning packet here. | |
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35% Of Townhome, Duplex and Condo Sales Are New Homes! |
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 This stat (illustrated above) might surprise you. It surprised me! Thus far in 2021 there have been 379 sales of townhomes, duplexes and condos in Harrisonburg and Rockingham County as recorded in the HRAR MLS. Of those 379 sales -- 35% of them have been new home sales! I know there have been plenty of new home sales (particular of attached properties) in 2021, but I didn't think it was more than a third of all attached homes that are selling. Here are some of the spots where we have seen the most sales of new townhomes, duplexes and condos thus far in 2021...
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Townhouses in Phase 2 of The Townes at Congers Creek Now Available For Purchase |
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 The Townes at Congers Creek is a new townhouse development located in Rockingham County, across Boyers Road from Sentara RMH Medical Center. The first phase of the development included 26 townhouses, all of which are under contract or sold. A second phase of townhouses is now under development that will include 133 more townhouses in a few different styles...  view a larger plat here The three styles of townhouses will include...
You can find pricing, availability, a site plan, standard features, available upgrades and more at CongersCreek.com. The first (10) townhouses at Congers Creek hit the market yesterday and it seems likely that (5) of those will be under contract by the end of the weekend. You can also email me with any questions you might have, as I am the Realtor representing the builder/developer. | |
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I Think Harrisonburg Has Created More Homeowners and Would Be Homeowners Over The Past Decade Than Builders Have Created New Houses For Purchase |
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 This won't deal with numbers or data -- just concepts and ideas, but here's the theory... I Think Harrisonburg Has Created More Homeowners and Would Be Homeowners Over The Past Decade Than Builders Have Created New Houses For Purchase Harrisonburg, Virginia is a popular place to live.
All in all, I think Harrisonburg has had sustained population growth over the past ten or so years -- many of whom bought homes or wanted to buy homes but couldn't find anything to buy. We could dig into the census and try to pin a number on that growth it but it would be imprecise at best. Let's just call them Net New H'burg Residents. Also over the past decade, builders have built some, but not a lot of new houses for purchase...
We could dig into building permit data and try to figure out what type of properties have been built, how many have been for homeowners (not renters), etc., but this would be imprecise at best. Let's just call them New Homes For Homebuyers. Having summarized these dynamics, I think you see where I'm going. I think... Net New H'burg Residents > New Homes For Homebuyers I actually don't even think those two numbers are close. I think the number of net new Harrisonburg residents far exceeds the new homes that have been built for homebuyers. If you bought into my theory, what, then, would this mean for the future?
So, that's what I think. What do you think? Does this seem like a reasonable understanding of some of the current dynamics in the Harrisonburg housing market? | |
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The Phoenix at Harrisonburg, A Senior Living Community, Opening in Spring 2022 |
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 view a larger map here A Senior Living Community called The Phoenix at Harrisonburg is opening early next year at the intersection of Stone Spring Road and Boyers Road, across Stone Spring Road from Preston Lake Apartments. Per the the Phoenix Development Group Partners website, this community will include...
The community will also include "exterior amenities such as a bocce ball court, covered pavilion with fireplace and grill station, and three interior courtyards." | |
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Further Details Of Cobblers Valley, The Latest Ryan Homes Community In Rockingham County |
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 Ryan Homes is currently building duplexes in McGaheysville (South Peak) and single family homes and townhomes in Grottoes (Shady Creek) and now they will be building more single family homes and townhomes in Harrisonburg and Rockingham County. Here's what we know so far... Here's the original (perhaps now out of date) plat of the neighborhood...  The Ryan Homes website indicates that the single family homes will have garages... and yards... and will start in the low $300K's. TBD if that's $305K or $349K. ;-) Ryan Homes (via the current landowner) is asking the City approve a rezoning to allow for up to 40 townhomes to be built on the City's portion of the development. Here's the plat from the City Planning Commission's packet...  view it larger here The full packet of information from the City Planning Commission can be downloaded here. In the County, Ryan Homes (via the current landowner) is asking permission to only limit their construction to 80 homes per year (instead of 40 homes per year) -- and they would not be planning to build townhomes until July 2022. You can see a bit of the site plan from Ryan Homes here...  view it larger here You can download the full packet from the County Planning Commission here. | |
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Over 4,000 New Homes Are Under Construction Or Being Planned In Harrisonburg, Rockingham County |
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 From time to time I post information here on my blog about new neighborhoods or communities that are being developed. I thought it might be helpful to compile all of that information in one place. Here are the new communities where dirt is moving for a combined total of over 1,800 new homes...
Here are the new communities currently being planned with a combined total of over 2,300 new homes...
I have compiled an overview document that includes all of the communities listed above as well as...
You'll find all of this information by visiting HarrisonburgNewHomes.com. If you have information about other new communities not currently on my list, let me know. If you see something on my list that is incorrect -- please email me with additional information so that I can make the list more accurate. | |
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Yes, We Need More Townhouses To Be Built! |
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 When you see more townhouses being built -- or when you see plans being discussed for more townhouses to be built -- you might be thinking... What!? More townhouses!? Don't we have enough townhouses!? But if you ask nearly any local Realtor who has represented the seller of a townhouse in or near Harrisonburg in 2021 they will tell you... Yes, We Need More Townhouses To Be Built! Whenever a resale townhouse comes on the market it is almost always overwhelmed with showings in the first few days on the market -- and then the offers start coming in, fast and furious. Buyers are offering over asking price. Buyers are waiving inspection contingencies. Buyers are desperate to find a townhouse to buy. But yet, when there are 12 offers on a townhouse, the seller is only able to accept one of those offers. As a result, there are still 11 would-be townhouse buyers circling the market waiting on that next townhouse to become available. As quickly becomes evident, demand for townhouses FAR exceeds supply -- so... Yes, More Townhouses Need To Be Built! If I dialed in a bit further on this issue, I suppose I should point out that...
So, while it would be great to continue to see options over $250K, it would also be amazing to see new townhouse options much closer to $200K. | |
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155 Single Family Homes Proposed In New Neighborhood, Peak Mountain, In McGaheysville |
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view a larger plat here We might see up to 155 detached single family coming to McGaheysville soon, located between McGaheysville Road, Power Dam Road and Three Leagues Road. Four tracts of land totaling 41.99 acres are currently zoned A-1 and A-2 but the owner is proposing that the County rezone them PSF-C... Planned Single-family Residential with Conditions. This neighborhood of detached homes is planned to include 155 homes...
The neighborhood would also include a shared-use path. View all of the details in the Rezoning Case Report here. | |
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Scott Rogers
Funkhouser Real
Estate Group
540-578-0102
scott@funkhousergroup.com
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