Harrisonburg / Rockingham Home Sales Report: 4/8/2008
Scott P. Rogers
A few observations about the current state of our market:
- Home sales (closings) continue to be lower than in last year's market, by 22-24%, however, buyer activity is very close to last year, with 124 contracts ratified in March 2008, as compared to 125 contracts ratified in March 2007.
- Per 'median sales price" standards, home prices continue to rise, somewhere between 5% and 8% per year.
- Supply continues to increase at an unsustainable pace. In March 2008, 183 properties came on the market, while only 91 sold, and only 124 sellers ratified contracts.
