I recently heard someone say it costs over $400K to buy a home in Harrisonburg these days. 

Is that true?  Let's take a look...

Where does the $400K figure come from?

Home prices in Harrisonburg have been climbing steadily over the past five years, and the median sale price of detached homes has pushed into that over $400K range. So, sometimes when someone says that it would cost $400K to buy a home in Harrisonburg, they're talking about detached homes.

But median is just the middle of the range. Half of homes sell above that number... and half sell below it.

And... townhomes are homes too!

What can you actually buy for less?

Over the past year, 11 homes sold for less than $200K... and 147 homes sold for less than $300K!

That's not a handful of outliers –– that's a meaningful portion of the market.

Now, certainly, a home under $200K in today's market is likely going to be smaller, older, or need some work. And a home under $300K might be a townhouse, or a condo, or a house that hasn't been updated recently. But these homes exist, they sell, and for the right buyer they can be a great fit.

So what does it actually cost?

It depends on what you're looking for. If you want a newer single–family home with updated finishes in a popular neighborhood, yes –– you're probably looking at $400,000 or more. Maybe more.

But if you're a first–time buyer with a tighter budget, or someone who doesn't mind a little older or a little smaller, there are real options in Harrisonburg below $300K. They go fast, and you may need to be patient... but they're out there.

Here's a situation that comes up fairly often in real estate transactions, and it can create a real sticking point between buyers and sellers... even when nobody is necessarily being unreasonable.

It often (but not always) involves a roof, so we'll use that as the example.

Specifically, a roof that is 25 to 30 years old. The shingles are intact. There's no visible damage. The roof isn't leaking.  

The seller looks at that roof and thinks, "It's doing its job. I'm not replacing something that isn't broken." That's a completely understandable position.

The buyer looks at that same roof and thinks, "I'm about to spend a significant amount of money on this house, and in a few years I may have to spend another $15,000 or $20,000 to replace this roof." That's also a completely understandable position.

So what do you do when both people are being reasonable, but nobody can quite find common ground?

What you can do as a seller to move things forward...

1.  The most proactive option is simply to replace the roof before listing the home. Yes, it's an expense... but it removes the issue entirely and can actually strengthen the home's value and marketability. You might not want to go this route, but it's worth at least considering.

2.  If replacing the roof isn't on the table, we can price your home to reflect the reality of the age of the roof. A house with a 25–year–old roof shouldn't be priced the same as a comparable house with a roof that's 5 to 10 years old. Buyers will either factor it in themselves or walk away when the issue surfaces –– and it usually does surface.

3.  A third option is offering a closing cost credit. This doesn't replace the roof, but it helps the buyer preserve some cash after closing so they're not completely caught off guard when the time comes. It can be a practical middle ground that keeps the deal together.

What you probably shouldn't do as a seller...

1.  Pricing the home as though the aging roof isn't a factor.  This is likely to backfire. Buyers do their homework, inspectors note things such as a roof's approximate age, and insurance companies sometimes have opinions too. Ignoring the issue rarely makes it go away.

2.  Refusing to acknowledge –– either before contract or after inspection –– that the roof is nearing the end of its life.  This can create challenges in the real estate transaction and might derail it altogether.  

The aging roof situation (or other aging system situation) doesn't have to be a dealbreaker. But it does require both parties to approach it with realistic expectations and some willingness to find a path forward.
  

For about five years, almost every new listing in the Harrisonburg area followed the same pattern. The house hit the market, showings poured in, and within two or three days there were multiple offers on the table. Sellers got used to it. Buyers were exhausted by it.

That still happens... sometimes... but not always or most of the time. 

Here are five scenarios I've seen play out on multiple new listings over the past month or so...

1. Multiple offers within two days.

Yes, this still happens –– and when it does, it looks a lot like the market of a few years ago. The house is priced well, it shows well, and buyers are ready to move. If you're a seller, don't assume this will be your experience. But don't assume it won't be either.

2. No offers for five days... and then three or four all at once.

This one catches people off guard. The first week feels quiet and sellers start to worry. Then, seemingly out of nowhere, multiple buyers all decide to move at the same time. I think what's happening here is that buyers are thinking things through slightly more... whether it be the fit of the house, or the mortgage payment... and then a few of them reach the same conclusion around the same moment.

3. Lots of showings, lots of talk of offers... and then just one.

This is probably the most frustrating scenario for sellers. We see plenty of showings.  Buyer agents are saying their clients are interested. And then after four or five days, only one offer materializes. Maybe the others buyers got cold feet. Maybe the price stretched just a little further than they were comfortable with. One offer isn't a bad outcome –– but it doesn't line up with what we were thinking we might receive.

4. Some showings, some interest, and eventually... one offer after two or three weeks.

The market is still moving here, just more slowly. A buyer finds the home, takes their time, and comes to the table. This is a completely normal outcome in a more balanced market –– it just requires some patience from sellers who expected things to move faster.

5. Steady showings over the first month, and still no offers.

This one is the clearest signal that something needs to change –– often the price. Showings mean buyers are interested enough to come look. No offers after four weeks means something about the home, the condition, or (most often) the price isn't quite working for buyers. That's important feedback for us to take into account.  

So what does all of this mean if you're thinking about selling this Spring?

We will want set reasonable expectations, knowing that your home might go under contract in two days, or it might take two months. The outcome depends on your home's price, condition, the marketing and the breadth of the pool of buyers for your home.
 

Here's something I've come to know to be true after years of helping people sell homes in the Harrisonburg area... some of the most motivated buyers out there aren't strangers browsing the internet. They're people who already have a reason to love your neighborhood... they just don't know your home is available yet.

Your neighbors have people in their lives who would jump at the chance to live nearby. A sister who's been wanting to be closer to family. A best friend who loves the neighborhood every time they visit. A coworker who's heard about the street for years and has always thought "I'd love to live there someday."

These buyers are out there. They're just waiting for someone to connect the dots.  That's why one part of our early marketing of your home will be an outreach to your neighbors once your home hits the market for sale.

The message to the neighbors is simple... your neighbor's home is for sale, and if you know anyone who'd love to join the neighborhood, now is the time.  

Think about it from a buyer's perspective... if a friend or family member already lives on your street, that's not just a random house that they might buy, it's a chance to be just down the street from a family member or friend. That kind of connection to neighbors can lead to a strong offer from someone who really wants to buy your house.

This outreach to neighbors won't always turn up a ready, willing and able buyer –– but when it does, they are often quite motivated to make sure they can purchase the home.

  

When a homeowner indicates in their property marketing that their home is being sold "as is," this can make some buyers nervous.  Buyers often think this phrase means that there are known or suspected major issues with the house.

But oftentimes, a seller is just saying the property is being sold "as is" because they don't want to make any repairs to the property. That's it.  It doesn't necessarily mean the roof is failing, the HVAC is on its last legs, or there's a excessive moisture in the crawl space. 

Sometimes a seller is downsizing after decades in a home and simply doesn't have the bandwidth to manage a repair list before closing. Sometimes they've already moved and don't want to go back and forth coordinating contractors. Sometimes they just want a clean, simple transaction.

If you're a buyer...

Don't let the words "as is" automatically send you running. Instead, let's ask what the seller actually means by it. Is this a home with significant known issues? Or is it simply a seller who prefers not to negotiate repairs after inspection? Those are very different situations.  

You can still propose to have a home inspection as a part of your purchase if a property is being sold "as is" – though the seller will need to agree to that contingency.  Once you know what the inspection reveals, you can decide whether you're comfortable moving forward, or whether the actual condition of the home is a dealbreaker.

So... try not to let the phrase scare us before we know more.

If you're a seller...

It's worth pausing to discuss before we describe your home as being sold "as is" as that phrase may scare off some potentially interested buyers.  If what you really mean is that you don't want to make repairs, there are better ways to communicate that. Something like "seller prefers to sell without repairs" or "priced to reflect condition" conveys the same reality without making buyers as nervous. 

The bottom line? 

"As is" is one of those phrases that can seem like it means more than it often does in a real estate transaction.  If you're buying or selling in the Harrisonburg area and want to talk through what it might mean for your specific situation, I'm happy to help.

  

If it feels harder to find a single family home to buy in the City of Harrisonburg lately, that is not your imagination. The numbers (shown above) back it up.

Per data from the HRAR MLS, single family home sales in the city peaked at 253 in 2021 and have been falling ever since –– down to just 142 in 2025. That is a drop of more than 40% in four years.

Fewer sales does not necessarily mean fewer buyers. It has seemed to have been mostly a result of fewer homes coming on the market. Many owners who might otherwise sell are holding onto low mortgage rates from a few years ago, and that has kept inventory tight.

If You Are Buying

Preparation matters more than ever right now. Homes that are priced well and show nicely are still moving. Being pre–approved and ready to act quickly makes a big difference in a market this competitive.

If You Are Selling

Limited inventory is –– as you'd likely expect –– good news for sellers. With fewer homes to choose from, well–prepared, appropriately priced and thoroughly marketed new listings are attracting strong buyer interest. If you have been on the fence about whether to sell, this market may work more in your favor than you think.

Reach out if you would like to talk through what buying or selling a single family home in the City of Harrisonburg could look like for you.

If you're thinking about selling your home, one of the most valuable things we can do together –– before a single photo is taken or a buyer walks through the door –– is to walk through and around your house together. 

And, actually, we might do it a few times.  

The First Walk–Through: Big Picture Planning

This one happens early –– usually before you've even started to prepare your home for the market.  At this stage, I'm looking at your home through the eyes of a buyer and asking... Where should we focus our energy? Some things matter a lot. Others matter less than you might think. This walk–through helps you avoid spending time and energy and money on the wrong things –– and will give you clear priorities for how to prepare your home for the market.

The Second Walk–Through: Getting to the Finish Line

You've done most of the hard work. It might be painting, decluttering, perhaps a few small repairs.  Things are looking good –– and you are probably 90% of the way there.  This walk through is about working on that last 10%. After living in a home for years, it's easy to stop seeing certain things. I'll walk through with fresh eyes and help you identify the small adjustments that many buyers will notice.

The Third Walk–Through: Photo Day Prep

Most buyers form their first impression online, before they ever set foot inside. That makes the photos of your home incredibly important.  Right before we shoot, we'll do one final walk–through focused on the details –– tweaking a furniture angle to open up a space, clearing a last few things off a countertop and more. These will be small tweaks, but they make your home shine in the photos.

If you're thinking about selling your home –– even if it's not for a few months –– let's chat.  We can start with talking about the market, the process, and doing the first walk through described above.

  

Last week, I walked through two homes with a home buyer –– and both homes were around 2,000 square feet and had relatively similar list prices.  On paper, the homes are nearly identical –– but in person they felt quite different.

The two–story home felt cramped on the main level. Most of the square footage was upstairs on the bedroom level, leaving the kitchen, dining, and living areas feeling squeezed. 

The single–story ranch, on the other hand, was open and spacious as soon as you walked in –– with natural light from multiple directions and a large kitchen that flowed into an equally large living area

This is not an uncommon experience.  Many two–story homes feel smaller than an equally sized (by SF) one–story home because staircases, landings and hallways eat into both floors. The main level –– where you likely spend most of your waking hours –– often ends up with less usable space than you'd expect. 

A single level home spreads all of that square footage across one level, with more flexibility for open layouts.

When we're comparing homes, we'll be looking at the square footage... but we'll also want to think about whether that is divided up between multiple levels.  If it is, the feel of the home might be a bit different (smaller) than you might have otherwise expected.
  

We've been looking at houses for a little while now. We have walked through homes with awkward layouts, outdated kitchens, and some homes that needed oh so many updates or repairs.  And then we walk through this one. 

The space works. The neighborhood feels right. The price makes sense. Everything lines up –– except for that one thing. 

Maybe it is a slightly busy road out front. A smaller bedroom than you wanted. A single–car garage instead of a double.  A lot that doesn't work ideally for your dog or kids.  Whatever it is, it is the only thing you don't like about this house.

So how should we think about this one issue with an otherwise perfect house?

Is the one thing a non–negotiable?

Before you started looking, we probably talked about a a short list of true must–haves for your next home. Is this thing on that list? Or is what seems like a dealbreaker really just a preference?

Can it be fixed?

Some things are permanent. A busy road will always be a busy road. But a small bedroom could be a home office instead. A dated bathroom could be renovated. Before we decide the otherwise perfect house is not the one, let's think about how the one thing could this be solved, and what would that cost.

How rare is this house?

Most homes we have toured have multiple compromises. This one has only one. If we pass on it, we don't know if we will find something better –– we might just something different, with a different set of trade–offs.

This can be a helpful thought process... Imagine you have lived in the home for a few months.  You love the kitchen every morning and the yard every weekend. How often does that one thing actually come up?  Sometimes this thought exercise will help you see that we should just keep looking... other times it might cause you to conclude that this could be the right house for you.

  

If you have driven through any of the newer neighborhoods sprouting up across Harrisonburg and Rockingham County, you have probably noticed a familiar pattern... well–built homes, attractive streetscapes, and floor plans that repeat from lot to lot. A handful of models, a few elevation options, and a consistent aesthetic throughout.

That is not a knock on these neighborhoods. Builders offering a limited selection of floor plans can move efficiently, keep costs more manageable, and deliver a finished product that meets the expectations of today's buyers. And the volume of new homes being added to our market over the past several years has genuinely helped address the inventory challenges our area has faced.

But here is something worth thinking about... almost all homes being built today are in these types of relatively homogenous neighborhoods... which represents a meaningful shift in the character of what our housing stock will look like over time.

For generations, the neighborhoods of Harrisonburg and Rockingham County filled in one custom home at a time. A family would buy a lot, hire a builder, and end up with something designed around their specific needs and tastes. The result is what you see in many of our older, established neighborhoods today –– a cape cod next to a brick colonial next to a ranch. Every house its own thing.

That kind of neighborhood is simply not being created anymore, at least not at any meaningful scale. The economics of homebuilding today are different than they used to be. Land is being approved for housing in larger parcels, infrastructure is installed all at once, and homes are going up in sequence. It is an more efficient system, and it works. But it does not produce the same variety of housing.

What this means practically is that two distinct types of housing inventory are now coexisting in our market, and they are not really growing in the same direction. These newer neighborhoods continue to pop up, adding similar homes to the mix with each new phase or development. Meanwhile, the supply of older, truly one–of–a–kind homes stays roughly fixed. Those homes are not being replicated. When one sells, it is simply passed along to a new owner.

For buyers, this is worth understanding as you think about what you are actually looking for. A newer home in a more homogenous neighborhood offers predictability... modern layouts, new or newer systems, and finishes aligned with current tastes. An older custom home offers something harder to quantify –– a floor plan that exists nowhere else, details that reflect the time it was built, and a place in a neighborhood where no two houses are quite alike –– even if it does also mean more dated finishes or features, older systems and needed updates.

Neither is the wrong choice. But knowing which type of home you are buying, and what is actually being added to our market versus what is staying fixed, is useful context as you navigate your options here in the Harrisonburg area.
  

If you are trying to buy a home right now, you might feel discouraged by how few options you have to consider in your price range.

But... sometimes we can expand those options more easily than you think... if you are willing to be flexible on location.

For example, if you are hoping to buy a detached home under $250K and you are only looking within the City of Harrisonburg, the options are quite limited, as only 13 detached homes under $250K have sold in the City over the past year.  But... if we expand that to include Rockingham County as well, we find 93 such home sales over the past year.

Another example... if you are looking for a detached home under $300K in the Keister Elementary School district, there have only been 10 such options in the past year.  But, if you expand to all of the City of Harrisonburg, there were 36 options.

Of course, location matters (location, location, location) to most buyers. Whether it's the school district, or your commute time to work, or the neighborhood where you want to live, we likely can't completely eliminate a location filter.

But if you are feeling discouraged by how few homes are available in your price range, sometimes the answer is simply to look a little more broadly from a location perspective.

So let's start with your budget... what you are hoping to find in a home... and your ideal location.  From there, we can explore whether expanding the geography of your search might open up a lot more options.
   

At first glance, some of the recent housing market numbers for Harrisonburg and Rockingham County seem a bit contradictory.

Looking at all residential home sales combined (detached + attached), the median sales price has dipped slightly over the past year.

But if we break the market into its two main segments, something interesting appears:

• Detached home prices are still rising
• Attached home prices are also rising

How Can Both Things Be True At The Same Time?

The key lies in the proportion of detached vs. attached homes that are selling.

Last year:

• 62% of home sales were detached homes
• 38% were attached homes

This year so far:

• 50% of home sales are detached homes
• 50% are attached homes

That difference from year to year matters because detached homes typically sell for more than attached homes.  When a smaller share of higher priced detached homes make up the overall pool of sales, the combined median price can decline slightly even if prices within each category are rising.

This Confusing Concept Has A Name?

One astute reader and statistician even informed me that there is a name for this!?!

This statistical effect is called Simpson's Paradox, where trends within separate groups can appear different from –– or even the opposite of –– the trend when the data is combined.

In our local housing market, it shows up like this:

• Detached home prices = rising
• Attached home prices = rising
• Combined (detached + attached) home prices = slightly down

This overall downward trend is not a result of homes losing value, but a result a shift in the types of homes that are selling.

What Does This Mean For You?

If you own a detached home, the recent data suggests values are still trending upward.

If you own an attached home, values are also continuing to rise.

And if you are looking at the overall median price, remember that it reflects the mix of homes selling, not just price movement within each category.

As always, understanding the context behind the numbers is just as important as the numbers themselves.
  

When we're estimating the potential market value of your home, we will often focus (in part) on the features that it stand out from other nearby homes.

Sometimes those differences truly do increase a home's value. But not always.  A helpful way to think about it is this: the more universally appealing a feature is, the more likely it is to increase your home's value.

Some examples...

A Fourth Bedroom.  Let's say most homes in your neighborhood have three bedrooms.  If your home has four bedrooms, that's great, and buyers will probably pay more for your home than they would pay for a three bedroom home.  Buyers might want that fourth bedroom to use as a home office, a guest room or for a growing family.  Because that extra bedroom appeals to a wide range of buyers, it will almost always positively contribute to your home's value.

A Sixth Bathroom.  Now imagine a home that already has five bathrooms… and then adds a sixth.  At that point, the additional bathroom becomes much less meaningful to most buyers. While a few buyers might appreciate it, most won't specifically be looking for a sixth bathroom.  So even though it's technically an additional feature, it probably won't meaningfully increase the value of your home.

A Very Short Basement.  Suppose your home has a 2,000 square foot unfinished basement –– but the ceiling height is only six feet.  That basement might still provide storage space, but it's not going to be useful for finishing into living space, and some people will even find it uncomfortable to move around in.  Because it's not broadly useful to many buyers, it likely won't add much value compared to homes without that space.

When we identify features that your home has that others nearby do not, the key question becomes... how many buyers will actually find this feature valuable?  If the answer is most buyers, it will probably positively impact your home's value.  If the answer is only a small percentage of buyers, then we probably shouldn't assign much additional value to it.

That doesn't mean those features aren't enjoyable or useful to the you –– or that they won't be enjoyable or useful to some potential buyers. It simply means that the broader market (of most or all buyers) may not view them the same way... and thus may not be willing to pay extra for your home because of those features.

    

If you'll be selling your home soon, your home's price range may significantly impact how quickly it goes under contract.

Taking a look at home sales over the past six months in Harrisonburg and Rockingham County, it is clear (in the graph above) that the higher the price point, the longer it tends to take for a home to go under contract.

Over those past six months, here's the median days on market (list date to contract date) for homes that have sold:

Under $300K: 9 days

$300K to $500K: 11 days

$500K to $700K: 21 days

Over $700K: 45 days

In other words, homes under $500K are typically going under contract in about a week and a half, while homes over $700K are taking about six weeks on average.

This trend is not altogether surprising, as there are more buyers shopping under $500K than there are buyers looking at homes above $700K. As a home's price increases, the potential buyer pool usually becomes smaller, which often leads to longer time on the market.

This data does not indicate that higher–priced homes are not selling –– they definitely are –– but it does mean that homes at a higher price point often take a bit longer to sell.

For sellers, this context for time on the market can be helpful when preparing to list your home. If you are selling a $275K home and it has not received strong interest after two weeks, we should look carefully at pricing, condition and marketing –– but if you are selling an $800K home, two weeks on the market is still potentially very early in the process.
  

I say this mostly in jest...

But sometimes the more you love your current home, the harder it can be to get excited about the next one.

Of course, loving your home is exactly what I am hoping you do once you buy it.  Make it your own.  Make some improvements.  Enjoy it every minute of it. Make it a place that works really well for you and your family.

But sometimes really loving your current home makes it slightly harder to get excited about the next home.  :–)

For example...

Maybe your family has grown and you really need more space. Another bedroom or a larger kitchen would definitely improve the daily routines in your home. But your current home has a pretty amazing primary bedroom and bathroom suite. It is spacious, feels luxurious and you would definitely miss it if you didn't have it.  And now, every home we go to see has a primary suite that feels quite a bit less exciting.  

Or perhaps you have spent the past 10 years building an amazing outdoor space. The lawn is established, the landscaping looks great, the flower beds are blooming on schedule, and the raised vegetable beds produce a bountiful vegetables.  When we visit a possible next home with a great layout and location, you find it hard to imagine starting over with the outdoor work.

Sometimes it is even simpler than that.  You have spent years getting to a perfect arrangement for your furniture.  The sofa fits perfectly on that wall. The dining table sits comfortably in the space. Everything works.  Now when we walk into another home, you immediately start wondering if anything will fit quite as well.

Listen... I want you to love your home!  Do everything you can to fall in love with it.  Make it your own and enjoy every aspect of it.

Just remember, that if the time comes when you need to move because of space, location, or budget… the more you love your current home, the harder it might be to get excited about the next one.  :–)

   

Happy Friday, Friends!

What a wild week of weather this has been... yesterday (Thursday) the temperature started at 70 degrees at 1AM and fell to 30 degrees by late morning and snowflakes were flying.  Today, we'll be bouncing back up to 60 degrees.  I hope you have been able to keep up with the changing temperatures and stay relatively healthy!

A few weeks ago, Luke and I traveled to Florida for a few days (leaving in the evening, enjoying a beautiful sunset at take off) for the International Builder Show.

Along with helping people like you sell homes and buy homes in Harrisonburg and Rockingham County... I also help market and sell new construction homes.  Luke and I enjoyed learning about a lot of new products, techniques and trends in the new home building world.  It was a fun and very informative trip!  Let me know if you have any questions on new homes in our market!

Before we get to the latest trends in our local housing market...

Each month I have a giveaway for readers of my market report.  This month, enter for a chance to win a $50 gift card to Mr. J's Bagels & Deli – a great choice for breakfast or lunch.  My go–to bagel order is an egg bagel, toasted, with veggie cream cheese.  What about you?  Enter here for a chance to win the gift card to Mr. J's.

Next up... my monthly invitation to sign up for my daily email newsletter that I send out each weekday with a quick note related to our local market, the buying and selling process, and more.  Recent stories have included...

Stay informed and learn more about our local real estate market and the buying and selling process by subscribing to my daily email newsletter in addition to receiving my monthly market update.  

Finally, before we get to the most recent market data, if you're thinking you might buy a home or sell your home this Spring... I'd be delighted to help you with the process.  Reach out anytime by phone/text at 540–578–0102 or by email.  

Now, then, on to the latest data and trends for the Harrisonburg and Rockingham County real estate market...

A few things to note here...

[1]  We saw quite the uptick in home sale this February... with a 32% increase over last February... and when looking at the past six months, we've seen a 7% increase in home sales.  So... more buyers are buying homes in recent months.

[2]  Over the past six months, the median sales price has been 2% lower than the same time a year prior... and over the past 12 months, the median sales price has been 1% lower than the prior year.  Does this mean prices are declining?  Maybe, but maybe not.  Read on for several other data points that indicate prices might not actually be declining.

[3]  It is certainly taking longer to sell a home (get it under contract) these days as the median "days on market" has risen from six days to 12 days over the past year.  You'll see this in a visual form later in this report.

Here's a look at the surprisingly active month of February home sales...

February 2026 was about as busy (or busier) than a normal month of March!  Perhaps it was because of a slightly slower than normal January (the weather wasn't so great) but whatever the reason... there were quite a few more home sales this February than any recent February.  Stay tuned for contract numbers that will give us a preview of what to expect in March.

OK, here's where we get to whether sales prices are actually falling.  The data table presented earlier showed a 2% decline in the median sales price over the past year, but the next two graphs show the same data, broken down between detached homes and attached homes.

First... take note of the rising median sales price of detached homes...

And now, take note of the rising median sales price of attached homes...

So...

All Home (detached + attached) = falling median sales price

Detached Homes = rising median sales price

Attached Homes = rising median sales price

How can it be?!?

Basically, I believe it's a change in the mix of detached vs. attached homes that are selling.  Last year, 62% of home sales were detached homes.  This year, only 50% of home sales are detached homes.

Thus, with more attached homes selling this year (compared to detached homes) the overall (detached + attached) median sales price is declining slightly while the median sales price of detached homes is rising and attached homes is rising.

OK, that was a lot.  I might try to illustrate that a bit more clearly in a future daily newsletter.  

Suffice it to say, even though the market wide median sales price is declining slightly, I don't know that home prices are actually declining.

Do you agree?  Do you disagree?  Are you confused?  Drop me a line to let me know of your thoughts or questions.

Back to more graphs...

Home sales jumped up in February... and... contracts did as well.  Last February only 76 contracts were signed, while 94 were signed this February.  That put this February more on par with the average (97) over the past four years.  Thus, it seems likely that we'll see a strong month of closed sales in March.

What about inventory levels... they've been elevated for a while...

As shown in the yellow band above, inventory levels were higher last year (blue line) than typical over the past four years (grey line) but that might be shifting.  Current inventory levels (157 homes for sale) is pretty close to where we were a year ago and the average of the past four years.  It will be interesting to see if inventory levels rise further as we move into the thick of the Spring market.

As mentioned earlier, it is taking longer for homes to sell these days...

The change might not seem dramatic (median of 6 to median of 12) but it does indicate that it is taking longer for homes to sell now than it was a year ago.  It doesn't seem like that this trend will reverse itself anytime soon, though perhaps it will start to level out at some point.

The good news for buyers... lower mortgage interest rates...

A year ago, you'd be buying with a 6.76% mortgage interest rate... today... around 5.98%.  I'm optimistic (or hopeful) that rates will stay below 6% for most of the rest of 2026, though I don't know that we'll see them drop as far as... say... 5.5%.

Interested in even more market data to pore over?  You'll find plenty of additional charts and graphs over here if you want to read further.

Until next month...

1.  More options are emerging.  Inventory is similar to last year and may grow as the spring market unfolds.

2.  Homes are still selling quickly.  Median days on market doubled from 6 to 12 days, but well–priced homes still move fast.

3.  Mortgage rates are slightly better.  Rates around 6 percent are lower than a year ago, helping affordability.

1.  Buyers are active.  February home sales jumped 32 percent compared to last year.

2.  Prices appear stable overall.  Detached and attached home prices are still trending upward.

3.  Patience may be required.  Homes are taking a bit longer to go under contract than they did a year ago.

Have a wonderful weekend, and Happy (almost) Saint Patrick's Day!

  

In a recent conversation with someone considering a move to the Harrisonburg and Rockingham County area, they mentioned something I don't think about too often because it is the reality I live in every day...

Home prices have risen quite a bit over the past five years.

They are absolutely right.  The median sales price in our local housing market has increased significantly since 2020. 

So why has this happened?

One of the biggest reasons is actually relatively simple...

Harrisonburg and Rockingham County are popular places to live.

People who already live here often want to stay here. Many homeowners who might have moved in other markets are choosing to remain in our area because they enjoy what life is like living in Harrisonburg or in an immediately surrounding area.

And, at the same time, plenty of people want to move here.

Some are relocating for jobs at JMU, Sentara RMH, Merck, etc. Others are moving here because of the quality of life in the Shenandoah Valley, outdoor recreation options, the strong sense of community, and a cost of living that is still relatively reasonable compared to many other larger metro areas.

When you combine people staying with new people arriving, it leads to a steady or increasing demand for housing.

And when demand grows faster than supply, home prices will often rise.

So while those rising home prices can feel discouraging if you are just beginning to consider a move to this area, they also are an indication that Harrisonburg and Rockingham County are places where people want to live.

In other words, rising home prices are partly a reflection of this being a great place to live.
  

Please Note: My advice on this topic will vary based on how demand compares to supply in your market segment – and based on the age of your home.  But regardless, let's look at some reasons why you might decide to have a home inspection completed on your home before listing it for sale...

The market is still quite active in most price ranges, but more buyers are feeling a willingness to include a home inspection contingency, so it is relatively likely that the buyer of your home will conduct a home inspection once they are under contract to purchase your home.

That home inspection is a normal part of the process, and sometimes it leads to repair requests from the buyer.

As such, some sellers consider completing a home inspection before listing their home for sale. A home inspection before you list your home is not the right move for everyone, but if you have both the time and the money, it can be quite helpful.

Time...

If you complete a home inspection before listing your home, there is a good chance the inspector will identify a handful of issues. Most homes –– even very well maintained ones –– have at least a few items that show up on an inspection report.

If we are planning to list your home next week, you probably will not have time to address those issues before your home goes on the market. But if we are planning to put your home in the market in a month or two, an inspection before you list your home gives you time to make repairs on your own schedule instead of scrambling after a buyer requests repairs when your house is under contract.

Money...

The inspection itself will have a cost (perhaps $400 to $550), but the larger potential financial commitment will be addressing any deficiencies found during the inspection.That inspection could uncover items that you decide to repair before listing your home –– perhaps a roof repair, electrical updates, plumbing fixes, or addressing deferred maintenance items –– and there will be a cost to those repairs.

Or, No Inspection...

Of course, the alternative to doing that inspection before you list your home is waiting to see what turns up in a buyer's inspection.  If significant issues are found via the inspection, buyers will sometimes request repairs or ask for a credit, sometimes depending on the price they are paying for the house.

Discovering any issues ahead of time, allows you as a seller to handle repairs proactively and present the home to buyers with fewer potential concerns.

A pre–listing inspection certainly is not the right move for every seller, and most homes go on the market without one.  But if you have the time and the money (as outlined above), it can be a helpful way to reduce surprises later in the process and potentially create a smoother transaction from listing your home to heading to closing.
  

If you own real estate in Rockingham County, you likely received an notice of the updated real estate tax assessment for your property sometime in the past week... or it will hit your mailbox soon.

Plenty of property owners have been shocked to see their 2026 reassessment notice and note that the assessment of their property has increased by 20% or more.

How could it be!?  Home values certainly did not increase by 20% between 2025 and 2026!?!  Right??

Right!

Here's what you might have forgotten... which would be understandable, as you would probably only think about it once every four years...

Rockingham County reassesses real estate every four years... not every year.

So, the last time Rockingham County adjusted the assessed value of your home was back in 2022... which was likely loosely based on 2021 sales data.

This time, the 2026 reassessment would be loosely based on 2025 sales data.

Which... brings me to the graph above.

In 2021 (the main source data for 2022 reassessments) the median sales price in Rockingham County was $281,250.

In 2025 (the main source data for 2025 reassessments) the median sales price in Rockingham County was $355,000.

As such, since sales prices of homes in Rockingham County increased by 26% over that four year period, you probably shouldn't be too surprised if your real estate tax assessment increased by 15%, 20%, 25% or possibly even 30%.

  

And now... we'll all promptly forget about the every–four–year aspect of the Rockingham County real estate assessments... until the next time our real estate assessment changes... in 2030.  See you then!

  

Back in July 2025 the Harrisonburg Planning Commission reviewed a rezoning request for The Link, but the proposal must go through the process again due to an error in advertising the public hearing.

So... the Public Hearing is this Wednesday, March 11, 2026 at 6:00 PM.

Back to the rezoning request... the developer has modified the proposal a bit and it is now proposed to include:

Amongst the 250 apartments, the applicant will include a minimum of 110 studio or one bedroom apartments and a maximum of 85 four–bedroom apartments.

Here's another rendering of the proposed development...

During the first public hearing it became evident that community members have a variety of perspectives on this proposed development.

Some people support The Link because they want more people to be living downtown, which will help downtown businesses, restaurants and events.

Some people oppose The Link because of concerns about the size and scale of the development, including the proposed six–story building at one of the entrances to downtown Harrisonburg, concerns that it could become primarily college student housing, and concerns about insufficient parking and increased traffic in the immediate area and surrounding neighborhoods.

Please Note: I am over simplifying the reasons why some people support the proposal and others oppose it.  I attended the first public hearing, and if you are interested in this rezoning request and its outcome, I encourage you to attend the new public hearing.  Listen to what our fellow community members are sharing about why they support or oppose this proposed development – and consider voicing your opinion!

Here's the proposed site plan...

To put the size of the proposed development in context...

The Planning Commission will review the proposal and hear public comments before making a recommendation to City Council, which will ultimately decide whether the rezoning is approved or denied.

Read more about the proposed rezoning via...

Again... Wednesday, March 11 at 6:00 PM if you'd like to attend the Planning Commission public hearing on The Link.