Local housing market stable in January 2012
Scott P. Rogers
Our local housing market remained relatively stable in January 2012, showing some indicators that we will continue the new trend we saw in 2011. To remind you.....
In 2011, after a five year slide (and a 55% drop) in the pace of home sales, our local real estate market showed a 4% improvement in the pace of home sales last year, even though the median sales price declined another 3%.
Jump to the PDF of my monthly market report, or keep reading for an overview.
Important trends to note:
In 2011, after a five year slide (and a 55% drop) in the pace of home sales, our local real estate market showed a 4% improvement in the pace of home sales last year, even though the median sales price declined another 3%.
Jump to the PDF of my monthly market report, or keep reading for an overview.
Important trends to note:
- Home sales declined slightly (by one sale) in January 2012 as compared to last January.
- The median sales price increased by 18%. (because of a small data set?)
- The average sales price declined by 1%
Inventory levels continue to decline (as shown above) with a 14% decline over the past year, and an overall 17% over the past two years.
Perhaps one month of data is too small of a data set to draw some conclusions --- otherwise we'd think our market has REALLY recovered, as the median sales price increased 11% when comparing 2011 to January 2012.
For a more detailed look at the Harrisonburg and Rockingham County real estate market, download my full market report as a PDF.
And -- if you have questions about the local housing market, or if I can be of assistance to you with real estate that you own, or that you'd like to own, please be in touch. You can reach me most easily at 540-578-0102 or scott@HarrisonburgHousingToday.com.
