Sales Growth and Decline Vary Significantly By Area

Over the past year our local real estate market has been relatively stable (only a 1% decline in single family home sales) but it turns out that the changes in market activity have varied quite significantly by location.



As you can see above, despite overall stability several areas saw continued decline in sales:

• 20% decline in sales in the NE quadrant of Rockingham County
• 22% decline in sales in the SE quadrant of Rockingham County

But sales boomed in some areas (compared to last year):

• 26% increase in sales in Massanutten Resort

It is also interesting to note differences in the most frequently occurring price ranges in each of these six areas of our local market:

• the NW quadrant of Rockingham County seems to offer the most affordable options
• Massanutten Resort offers the most expensive options

All in all, this is yet another testament to the fact that all real estate is local.  We can't look at overall sales figures for all of Harrisonburg and Rockingham County and draw any conclusions about the value of your house, or how quickly it might sell.  It is almost always essential to dig down deeper to find more specific data with which to make educated real estate decisions.