2009 Real Estate Round Up: City vs. County, SFH vs. TH
Scott P. Rogers
Earlier this week I published my monthly market report on the Harrisonburg and Rockingham County real estate market. While my report does examine how single family homes performed compared to townhomes, it doesn't examine how City properties compared to County properties. Let's take a look at how each category performed in 2009, as compared to 2008.
Interestingly, there was a much more significant drop off in the number of City properties (23% decline) as compared to County properties (6% decline). Yet, while fewer City properties sold, they seem to have (marginally) maintained their value better than those in the County. The median sales price of City properties declined by 3%, while those in the County declined by 5%.
Above you will notice that townhomes outperformed single family homes in both measures I've calculated. There was a more significant drop off in single family homes (14%) as compared to townhomes (11%), and there was a more significant decline in single family home median sales prices (5%) than townhome median sales prices (3%).
The conclusion here? City townhomes seem to be the general victor here, with County single family homes suffering the most.
Interested in a different cut of the data? E-mail (scott@HarrisonburgHousingToday.com) or call me (540-578-0102) and I'll put it together for you!
Interestingly, there was a much more significant drop off in the number of City properties (23% decline) as compared to County properties (6% decline). Yet, while fewer City properties sold, they seem to have (marginally) maintained their value better than those in the County. The median sales price of City properties declined by 3%, while those in the County declined by 5%.
Above you will notice that townhomes outperformed single family homes in both measures I've calculated. There was a more significant drop off in single family homes (14%) as compared to townhomes (11%), and there was a more significant decline in single family home median sales prices (5%) than townhome median sales prices (3%).
The conclusion here? City townhomes seem to be the general victor here, with County single family homes suffering the most.
Interested in a different cut of the data? E-mail (scott@HarrisonburgHousingToday.com) or call me (540-578-0102) and I'll put it together for you!
