When you're getting ready to sell your home –– and once it's on the market –– it's important for us to keep tabs on the competition. Buyers aren't looking at your home in a vacuum... they're comparing it to others in the same price range, location, and style.

Before We List Your Home For Sale:

We'll want to price your home competitively with other listings buyers are likely to see at the same time. That means not only looking at what recently sold, but also at what's currently on the market. If similar homes are listed lower, or offer more features, we need to take that into account.

Once You're on the Market:

We won't just set your price and forget it. We'll watch:

Are similar homes going under contract?

Are other sellers adjusting their prices?

Are new listings hitting the market as new competitors?

If you're in a segment of the market where it could take a few weeks (or longer) to go under contract, it will be more important than ever for us to monitor the marker in this way so that your home is priced and positioned in a way that increases the likelihood that we will receive an offer and successfully sell your home.

Being successful in selling your home isn't just about your own house –– it also depends on how it stacks up against the others. Let's make sure we are positioned where we want to be relative to the competition.

  

It's a reasonable question... especially if you are thinking about listing your home for sale over the next few months...

Will we see fewer buyers signing contracts to buy homes over the Fall and Winter months?

The graph above takes a look at contract activity over the past five years to calculate the average number of contracts signed per month.

A few things to note...

[1]  The busiest months for contract activity are March through October... where we are seeing an average of 132 contracts signed per month.

[2]  Of those months, March through May are the busiest of the busy... with over 140 contracts per month.

[3]  Between November and December, contract signing activity drops off somewhat... but only down to an average of 98 contracts per month.

Thus, between November and February we do typically see 25% fewer contracts being signed per month... but it's not a 50% drop off, there are still a meaningful number of buyers signing contracts to buy.

It's also worth noting that...

[1]  Buyers are somewhat limited in how many homes they can contract to buy based on how many homes are listed for sale.  Thus, lower contract numbers in November, December, January and February might also be related to lower numbers of listings.

[2]  Holidays in November and December probably artificially reduce the number of listings and contracts during those months.

  

Between 2020 and 2024 the median sales price in Harrisonburg and Rockingham increased by an average of 9% per year.  Those four years of price increases resulted in a $100K increase in the median sales price in our area.

But... over the past year... the median sales price has increased by less than 1%.  

What might this mean for the future?

I think there are three possible scenarios for the next few years...

1.  Prices start rising more quickly again... perhaps at a rate of 2% to 4% per year.

2.  Prices continue to hover where they are now.

3.  Prices decline slightly.

The last time we saw a significant increase in our median sales price was between 2003 and 2006, so let's take a look at that "last time" to see what happened afterwards...

As shown above, the median sales price increased at an average of 15% per year between 2003 and 2006, which was then followed by two years of hovering sales prices and then three years of slight declines (average of 2% per year) before the median sales price started to rise again.

Will history repeat itself?  Will we see home prices hover for a year or two and then decline slightly before starting to increase again?

I don't think we need to assume that we will see this same pattern play out again... but only the next year or two will tell that story.  

What changes in median sales price do you think we will see over the next few years in Harrisonburg and Rockingham County?

  

In 2023, Harrisonburg City Council approved a rezoning to allow for the development of Bluestone Town Center, an 89.75 acre community to be built on Garbers Church Road.

The community is intended to include "for sale" and "for rent" housing... each with income limitations to focus on providing housing to those who might not otherwise be able to afford it.

Rental units (multifamily and townhomes owned and leased by Harrisonburg Redevelopment & Housing Authority or similar entity) will be leased to households (individuals or families) with income that does not exceed 80% of the area median income (AMI).

These "for rent" housing must be rented to households with those income limits for a period of 30 years.

Per the original proffers... for sale units (single family detached homes, manufactured homes and townhomes) must be sold to households with incomes between 80% and 120% of the area median income.

Per the proposed new proffers (to be considered by Planning Commission later this week)... for sale units (single family detached homes, manufactured homes and townhomes) must be sold to households with incomes below 120% of the area median income.

Now, let's get into AMI.  This was my data source for the calculations below.

The Area Median Income varies based on the number of persons in a household.  

80% of AMI

If you are a single person (household of 1) you could rent at Bluestone Town Center if your household income is less than $54,500.

If you are a family of four, you could rent at Bluestone Town Center if your household income is less than $77,800.

   

As inventory levels in Harrisonburg and Rockingham County continue to rise, it's easy to assume that we're back in a market where buyers have plenty of time to make a decision. And in some cases, that's true. Some new listings are sitting on the market for days, or even a week or more, without receiving an offer.

That slower pace can certainly give you a bit more breathing room than you had a year or two ago as a buyer.

But… don't be too quick to assume that every new listing will allow for a leisurely decision–making process. In many cases, homes are still going under contract quickly.

The Moment an Offer Is Received, the Clock Starts Ticking

Even if a house has been on the market for several days without activity, things can change rather quickly once the seller receives an offer. At that point, the timeline becomes much less predictable –– and not at all in your control as a buyer.

Some sellers might wait a few days before responding to that first offer. Others might decide to act quickly and make a decision within hours. 

How Sellers Decide When to Respond to an Offer

Every seller handles offers a bit differently, but here are four key factors that often influence their timing:

1.  How much interest has the property generated so far?  

If there have been multiple showings and a few buyers are already thinking seriously about the home, a seller may feel confident waiting to see if more offers roll in.  

2.  How many future showings are already scheduled?

If there are still 5 to 10 showings scheduled that have not taken place yet, a seller might hold off in hopes of another offer. But if activity has slowed, they may be more inclined to accept what's in front of them.

3.  What are the terms of the offer that has been received?

A strong offer with favorable terms (price, closing timeline minimal contingencies, etc.) might tempt a seller to act quickly and avoid risking a better offer that may never show up.

4.  How likely is it that a better offer will come along?

Sellers have to make their best guess here, often based on the first three factors. If the current offer seems solid and interest is fading, waiting might not be worth the risk.

What This Means for You as a Buyer

If you tour a home and it checks most or all of your boxes, don't assume you have days to think about it. Even if it's been on the market for a little while, the situation can change fast.

It's wise to make a plan right away after a showing to start preparing an offer if you choose to make one. That doesn't mean rushing into something you are not comfortable with – but being ready to act promptly can make the difference between securing the home you want to buy and missing out.

  

The median days on market for homes sold over the past 90 days has been seven days... but... that doesn't tell the entire story.

If we look at all 233 active listings in Harrisonburg and Rockingham County...

For much of the past five years, buying a home has been a fast paced, frantic, undertaking.  Homes would hit the market and go under contract within days –– so if a buyer didn't see a house immediately AND then rapidly make a strong offer, they risked losing out on buying the house.

But the market has shifted, at least somewhat, in some price ranges, for some property types.  (lots of caveats, I know)

While many homes still go under contract quickly, we're now seeing more inventory, somewhat fewer bidding wars, and a bit more breathing room for buyers.

What Does That Look Like?

Today's buyers are more cautious and intentional in their decision–making. Here's what we're seeing:

Asking more questions –– Buyers want to know the age of the roof, the condition of the HVAC system, recent utility costs, and more. They're digging deeper before moving forward.

Making second visits –– Instead of making an offer after walking through the house for 30 to 45 minutes, some buyers are coming back for a second look to make sure the home truly fits.

Taking more time to decide –– Rather than rushing to write an offer within hours, buyers are giving themselves time to weigh the decision.

What This Means for Sellers...

If you're selling your home, it's helpful to know that today's buyer behavior looks different than it did a year or two ago. The showing process might stretch out a bit longer, and offers may take more time to come together. That doesn't mean buyers aren't serious –– it just means they're being thoughtful.

What This Means for Buyers...

In some cases –– but definitely not all –– you may actually have the opportunity to see a home more than once before making an offer. That's a welcome change for many buyers who have felt rushed in recent years.

   

If you haven't driven by Lucy Drive lately you might not have seen these apartments popping up across from Medicap Pharmacy...

The apartments currently under construction appear to include two three–story buildings... each with 24 apartments... for a total of 48 units per the site plan...

After Phase 1 (which appears to include a club house) it appears that there will eventually be a second phase which will include three more buildings and 60 more apartments –– for a total of 108 apartments on the site.

     

These are the approved site plans from the City:  Phase I and Phase II

   

If you're checking out homes recently listed for sale, you might also happen to look up a property in the city or county tax records –– and then you might be surprised to see that the tax assessment is quite a bit different from the list price.

In most cases, the tax assessment is lower than the asking price. 

So why the difference?

A few key reasons...

Timing – Tax assessments are often based on sales data from a year or more ago. In a changing market, home values may have gone up (or down) since then.

Limited Info – Assessments don't always reflect upgrades, renovations, or the condition of the home. A house with a new kitchen or finished basement might be worth far more than the tax record suggests.

So, what's the key thing to remember?

Tax assessments help determine how much a homeowner pays in real estate taxes –– but they aren't a reliable way to understand a home's current market value. If we are trying to determine a home's value in the current market, our best bet is to look at recent comparable sales.

   

Sometimes you find a house that feels like it's just about perfect –– the layout, the location, the style –– everything about it!

Exciting, right?

But… it also has more space than you think you need.

Maybe there’s an extra bedroom with no clear use.

An unfinished basement you weren’t asking for.

Or a finished basement that feels like way more than you’ll ever use.

Before you walk away, pause and consider...

1.  Are you getting the perfect house (with the “extra” space) at the price you expected to pay for the perfect house without the extra space?

2.  Will you reasonably be able to maintain the home –– utilities, updates, upkeep –– even with the extra space?

3.  Are you likely to find another perfect house without the extra space?

If the answers are...

1.  Yes –– you’re getting “perfect+” house at a “perfect” price.

2.  Yes –– you can comfortably maintain it.

3.  No –– you’re unlikely to find perfect without some extra space.

...then maybe that extra space isn’t a problem at all... and perhaps that perfect+ house just be considered perfect after all!

  

Every homeowner cares for their home in their own way.

Some take a more reactive approach –– fixing things when they break, but not doing much beyond the necessities. Others are more proactive –– regularly updating and upgrading their home to keep it functioning well, looking good, and feeling modern.

Neither approach is wrong.

But over the course of many years, and especially when it’s time to sell, these two strategies can lead to very different experiences.

Here's what I mean...

Homeowner 1: Fix–It–As–Needed

You handle repairs as they come up –– but you don't spend much time or money updating things unless there’s a pressing need. That dripping faucet? Fixed. But the 1998 light fixtures or the worn carpet in the bedroom? They still work, so they get to stay.

What this often means when it's time to sell:

1.  A longer list of updates and upgrades that now feel urgent

2.  Spending money on improvements right before selling –– without much chance to enjoy them

3.  Somewhat lower levels of buyer interest, because buyers can tell the home still needs a bit of love

Homeowner 2: Keep–It–Fresh

You take a more ongoing approach –– making periodic improvements even when things are still functional. you might repaint before walls are feeling overly worn, dirty or out of date, you might update flooring before it’s fully worn out, or make a few small updates in bathrooms every 5 to 10 years.

What this often means when it's time to sell:

1.  Fewer last–minute projects

2.  A home that feels well–loved and well–maintained

3.  Somewhat higher buyer interest, since many buyers are looking for something move–in ready

So… which homeowner will you be?

If you own your home now –– or if you will soon –– it’s worth thinking about how you want to care for it in the years ahead.

Being a “Keep–It–Fresh" homeowner can come with a bit more time, effort, and cost upfront. But it also means enjoying a nicer space today, and potentially having a much smoother experience when you decide to sell.

And of course, this isn’t entirely black and white. Many (probably most) homeowners fall somewhere in between –– and that’s okay too.

My point is... the ways in which you care for your home now will shape how it feels to live in and how it performs on the market down the road.

Are you currently a "Fix–It–As–Needed" homeowner and you want to become a bit more of a "Keep–It–Fresh" homeowner?  I'm happy to walk through your home with you to identify areas where you might focus your time, energy, and yes – money, over the next three to five years to work towards this goal.

When you're searching for a home to buy, a normal first tendency is to imagine a space that checks every box on your list.

A dedicated home office. A guest room for when friends visit. A dining area that fits works for everyday use and for when extended family visits. A space for hobbies. Storage for seasonal decorations. A place for every person and function  –– even if some of those people or some of those life functions are only present once or twice a year.

But...how often does your home really need to do it all?

Let's take a common scenario. It's just you and your spouse living in the house. One of your kids comes home every so often, so a third bedroom (maybe a combination guest room and office) feels practical. But what if all four kids decide to visit at once? Do you need five or six bedrooms... just in case?

Or maybe dinner is usually just the two of you. Occasionally, you host a birthday party with six people. And every other Thanksgiving, your extended family of sixteen gathers under one roof. Should your house have room for a 16–person table year–round?

I don't know that there is a right or wrong answer to these questions –– everyone will think about them differently based on family dynamics and how often they think these types of situations will arise when the space in their home will be stretched.

But sometimes, with our goal of finding the perfect home, one that meets every potential need, we might find ourselves pursuing a home that is bigger or more expensive than is needed for most of your daily life.

If a home works amazingly well for you 360 days of the year…

Should you spend another $100,000 to buy a home that works just as well on the other five days?

I'm not here to say you should or shouldn't. But I do think it's worth pausing to think it through.

Sometimes, the best home isn't the one that checks every box for every possible occasion… it's the one that fits your actual life most of the time –– and that can fit those other edge cases with a bit of flexibility or creativity.

Need help thinking through what that looks like for you? Let's talk.
    

Continuing on the theme of buying a popular home, let's consider what types of homes are in demand in Rockingham County now... and will likely be in demand in the future.

I don’t think it’s one particular kind of home that is the most popular, but here are some generalities that likely apply to what homes will have more or less demand...

1.  Homes closer to Harrisonburg are likely to have more interest than those further out in County –– for many, but certainly not all, buyers.

2.  Homes that have been updated over the years are likely to be more popular than those that have not had any updates.

3.  Homes that have practical and functional floor plans are likely to be more popular than those with unique, quirky and difficult to use floor plans.

4.  Homes that are not on busy roads and that are not on steep lots will likely be more popular than those homes that do have those attributes.

5.  Homes currently in the $300K to $600K are more popular now – simply because there are more buyers who can afford to buy homes in that price range compared to any higher price range.

What else would you add to this list of features or attributes that will generally be more widely desirable to buyers than their opposing counterpart?

Of note... I'm not encouraging you to only buy homes that fit all of these criteria... nor am I suggesting that it's a bad idea to buy a home that doesn't fit the pattern above... I'm simply pointing out a few home (and lot) attributes that are more broadly appealing now and likely will be in the future.

  

If your home has been on the market for a few weeks without an offer, your perspective may start to shift.

At first, you might have expected or hoped for a full price offer. But after a few weeks on the market without an offer, you may start to wonder:

1.  Is my list price too high?

2.  Will anyone make an offer at all?

Then, let's say you finally receive an offer –– but it’s $10K to $15K below your asking price.

Interestingly, the offer itself can boost your confidence. It might feel like confirmation that your price is right –– and that a buyer should be willing to pay it. That renewed optimism might lead you to dismiss the offer or avoid negotiating, holding out for something better.

But before making that call, I would encourage you to consider...

How confident are you that you will receive a better offer?

If your home is listed at $500K and you receive an offer of $485K or $490K after three weeks, it’s worth giving that offer serious consideration –– or trying to negotiate toward a middle ground.

Why? Because if three more weeks go by without a new offer, you may end up reducing your list price to that same $490K, or $485K –– or lower.

We might also evaluate...

Has showing activity slowed?

Are similar homes selling quickly –– or sitting?

What’s your timeline if no other offers come in soon?

Negotiation is normal in the current market –– and sometimes, the best offer you’ll get is the one already in hand.

So if you get a “pretty close but not full price” offer, think carefully:

Are you confident you’ll get something better –– or might this be the strongest offer you will receive and one that you should take seriously?

  

You're getting your home ready to be listed for sale – cleaning, finishing a few small projects, we're about to schedule photos – when someone (a neighbor, friend, or friend–of–a–friend) says they want to buy it... before it's officially listed for sale.

Should you consider it?

Here are a few upsides – and downsides – to keep in mind.

Upsides...

Less prep – You might skip some last–minute cleaning, staging, or repairs.

No showings – Avoid the hassle of keeping your home spotless and ready to vacate.

Less uncertainty – You'll know right away that your home is sold.

Potential savings – No need for professional photos or listing expenses.

Downsides...

One offer instead of (possibly) multiple – You miss the chance for buyers to compete and drive the price up.

Fewer (possibly) waived contingencies – In a hot market, competition can lead buyers to waive inspections or appraisals.

Harder to gauge value – Without public exposure, it's tough to know if you're getting the best price.

Bottom Line...

Selling your home before it hits the market for sale can definitely be a simpler process, but sometimes it might leave money on the table. If convenience is your top priority, it could be a good option. If you want to maximize your price and have the best contract terms, it's usually best to list.

Curious what's right for your situation? I'm happy to talk it through.

 

Trying to figure out how many square feet are in your home? There are a few common methods –– though they won't all yield the same results!

First, you might check your property's tax records (City of Harrisonburg, Rockingham County)... or you could measure each room and hallway and add it all up. 

But the most widely accepted method –– used by appraisers, Realtors, and lenders –– starts outside your home.

To calculate square footage, we will want to use the exterior dimensions of each level, subtracting open areas like two–story foyers. This approach aligns with standards from multiple third party agencies such as Fannie Mae, HUD, FHA, and ANSI.

It may seem a little odd, though, because...

Walls Count: Measuring from the outside means the square footage of your house includes the space inside exterior and interior walls –– even though no one lives in the walls.  Unless... ghosts...?

Stairs Count: You likely also don't spend much time on your stairs, but that square footage is included as well. That's why a 2,000 SF single level home usually feels at least a bit more open and spacious than a 2,000 SF two–story home.

While city or county records are often close, it's a good idea to double–check your square footage before listing your home –– so we're comparing apples to apples with other homes on the market.

  

If you're thinking about buying a home in Harrisonburg or Rockingham County right now, you might be hearing that inventory levels are rising. And that's true –– there are about 40% more homes on the market today than there were a year ago.

But what does that actually mean for you as a buyer?

Well... it depends.

While the overall number of homes for sale is on the rise, that increase isn't evenly distributed across all price ranges, property types, or locations. In other words, your experience as a buyer will vary significantly depending on what you're looking for, where you're willing to live, and how much you're able (or willing) to spend.

Let's break that down with a few examples...

If you want to buy a detached home... there are 191 to choose from... but if it needs to be in the City of Harrisonburg and under $400K... there are only 13 options.

If you want to buy a home under $300K... there are 51 to choose from... but if it must be a detached home built in the past 50 years... there are only 10 options.

If you have a $600K budget for a detached home... there are 137 to choose from... but if it must be in the Spotswood High school district... there are only 5 options.

So... how many homes will you be choosing from?

Let's take a look together at the price range, property types, and locations that align with your home search. In some segments of the market, there may be plenty of homes to choose from. In others, you might still be facing very limited options.

Either way, understanding the current market –– and how it relates to your plans for buying a home –– is a key first step in the home buying process.

   

Over the past five years, we've experienced a fast–moving real estate market here in Harrisonburg and Rockingham County. Most homes have been selling quickly –– often in a matter of days –– and many or most have sold at or above the asking price.

This dynamic (homes selling quickly, at or above the list price) has created a dynamic in the market that is not always helpful for buyers (or sellers) today...

A buyer walks through a house and likes it. It checks most of their boxes, and they would love for it to be their next home.

But... either...

1. They think it's worth $10K to $20K less than the list price.

...or...

2.  They can't quite afford the monthly payment associated with the list price, but they could if the price were $10K to $20K lower.

And so... the buyer does nothing. They don't make an offer, as they assuming the seller won't negotiate or that their offer wouldn't be considered seriously.

My encouragement to buyers thinking these thoughts... let the seller make that decision of what they will or will not accept in an offer.  By not making an offer at all, you're deciding for them.

So, if you want to make a less than list price offer on a house, it's perfectly reasonable to wait a day or two to see if someone else steps in and pays full price, but it's also totally OK to just go ahead and make the offer.

The seller likely won't be offended. In many cases, they'll appreciate having an offer to consider. And who knows? You might be pleasantly surprised by their response.

Even in a market that still favors sellers in most price ranges, it is still reasonable to consider trying to negotiate on price and other terms. Doing so all starts with simply raising your hand and saying: "I'd like to buy your house – and here's what I can offer, or what I am comfortable offering."

So, yeah, just make the offer... 

If you're planning to sell your next home within the next five years, your success in selling quickly later may depend heavily on which house you buy today.

Here's what I mean...

If you want to own a home that will be easy to sell in a few years, you'll want to make sure you're buying a home today that is appealing to a broad pool of potential home buyers. If the type of property you're buying isn't popular now, there's a good chance it won't be popular (or easy to sell) later, either.

So what does that mean for a buyer today?

It means that when a well–priced, desirable home hits the market (and likely will go under contract in just a few days) you need to be ready to act quickly. Those fast–moving homes are the type of home you will want to be selling when the time comes in a few years.

Also of note, it probably doesn't make much sense to buy a home that has been sitting on the market for 90+ days if you will likely be selling it again in a few years.  A longer time on market often (though not always) points to something about the home that is less broadly appealing to buyer's in today's market. What's less desirable now is likely to still be less desirable later.

As is hopefully becoming clear, if you want to sell fast later, you'll need to buy the kind of home that sells fast now.

That likely means:

1. Being ready to tour a home the day it hits the market

2. Being prepared to make a strong offer quickly

3. Understanding which types of homes and locations are currently most in demand in Harrisonburg and Rockingham County

Buying a home is always a big decision, but if your next move is likely to only be for five years (+/–) rather than a forever home, your buying choices today should be at least partially shaped by any given home's resale potential in the future.

Want help identifying which properties in our market tend to sell quickly and attract strong interest from buyers? I'd be happy to help.

It seems that most homes sold over the past five years in Massanutten Resort have been active short term rentals... or have been purchased to become short term rentals.

This has lead to dramatic increases in the median sales price of homes in Massanutten Resort.

For example, looking at the first seven months of last year and this year...

Jan 1, 2024 – Jul 31, 2024 = $465,000 median sales price

Jan 1, 2025 – Jul 31, 2025 = $550,000 median sales price

So, one can't dispute that prices are rising, quickly.

A few other data points of interest related to the Massanutten Resort market...

# Sales in the first seven months of last year and this year...

Jan 1, 2024 – Jul 31, 2024 = 46 home sales

Jan 1, 2025 – Jul 31, 2025 = 47 home sales

So, about the same amount of market activity this year as compared to last.

Though... there's quite a bit of inventory now... with 22 active listings for a buyer to choose from today.

AIRDNA is a website that analyzes short term rental markets and properties.  They lump Massanutten Resort into a broader "Massanutten" sub market of Virginia which includes Massanutten Resort as well as a pretty broad area around it.

A few interesting insights from this Massanutten Resort (+) submarket on AIRDNA...

A Submarket Score of 97 – which give it a rank of #8 out of the 156 submarkets in the United States based on investability, rental demand, revenue growth, seasonality and regulation.

AIRDNA also indicates that this submarket is seeing...