April 2010: A Reason To Hope, A Reason To Laugh

Over the last several years, we have seen fewer and fewer (and fewer) homes sell each year in Harrisonburg and Rockingham County:

• 2005 = 1,669 sales
• 2006 = 1,438 sales
• 2007 = 1,248 sales
• 2008 = 936 sales
• 2009 = 816 sales

Each year I (foolishly?) hope that we have finally seen the end of the ever decreasing number of home sales in our local market.  But this year, we may actually have rounded that corner. 

In the first 115 days of 2010 (Jan 1 - Apr 25) we have seen:

• 186 home sales (compared to 179 last year)
• 268 homes going under contract (compared to 244 last year)

From both of the numbers above, our market seems to be headed in a good direction.  But perhaps ALL homeowners have caught wind of this, as there is a massive number of new listings on the market:

• Last year there were 389 new listings between Jan 1 and Apr 25.
• This year there have been 629 new listings between Jan 1 and Apr 25.

WOW --- did you catch that?  That's the laugh, by the way --- that somehow our market would keep up with all of these new listings!