Year End Report: Home Sales Up 9%, Prices Up 1%
Scott P. Rogers
Having closed out 2012, we can say with certainty that the the local housing market has turned the corner, and brighter times are ahead.
- Home Sales Increased 9% between 2011 and 2012
- Home Values (median sales prices) increased 1% between 2011 and 2012
Download the January 2013 Harrisonburg & Rockingham County Real Estate Market Report to pore over the details, or read on for highlights....
As shown above, while home sales declined (-29%) in December the year-end figures show an overall 8.8% increase in home sales during 2012. Furthermore, median sales prices increased (+0.57%) between 2011 and 2012.
As shown above, after a brief slow down during November, buyer activity increased again in December --- marking a 26% increase over December 2011.
Inventory levels have dropped again, down 15% over the past year to 572 homes on the market. This is a 27% decline over the past two years, and is definitely helping our local housing market return to a balance between buyers and sellers.
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.
Oh, one last thing....here are a few articles I have written over the past month that might be of interest:
- When do the buyers start buying? March? April?
- What Do Declining Inventory Levels Mean?
- Predictions for the 2013 Harrisonburg and Rockingham County Real Estate Market
