Harrisonburg home sales surge ahead 16% in August 2012

Exciting things are happening in the Harrisonburg and Rockingham County housing market.  Click here to download my monthly market report (28 page PDF), or read on for some highlights.



As shown above, indicators were mostly positive in August....

1. August home sales increased 16% over last August.
2. Year-to-date home sales increased 9% over 2011.
3. Median sales prices stayed stable (+0.9%) over the past year.
4. Average days on market increased by 6% to 222 days.

As shown above, August 2012 was head and shoulders above any of the three prior Augusts -- and overall, the summer months of 2012 were quite competitive across the board.



Contract activity also surged in August 2012 --- showing a 16% increase over August 2011 --- and a 67% increase over August 2010!  This is certainly a good sign for the coming months of closed sales data.



Declining inventory is certainly helping our local housing market head back towards more of a balance between buyers and sellers.  The number of homes for sale has decreased by 19% over the past year.



Click on the image above to download my full market report (28 page PDF). 

Also, here are a few articles I have written over the past month that might be of interest:

• A property can do well within an oversupplied segment of the market if....
  
• Why does my Realtor keep telling me to lower my asking price?
• Smiling: I absolutely LOVE your house (whispering: but I have to sell mine)
• Funkhouser Goes Independent
• In a market upswing, crying over missed past buying opportunities can lead to even more tears
  
• The balancing act of a home seller. Don't price too high, or too low!
• Is the window of maximum negotiating ability closing?
  

Finally -- 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.