Home Sales, Contracts Strong in January 2013
Scott P. Rogers
The February 2013 Harrisonburg & Rockingham County Real Estate Market Report has been published, with these bits of encouraging news about our local housing market.
January home sales (47) were up 21% over last January (39).....
January contracts (76) were up 29% over last January (59)....
When it comes to home values, last January was a bit of an anomaly, with much higher than normal median and average values. As such, it's best to look at 12-month indicators, where we will see small downward adjustments in home values....
- Median home values ($173,000) declined 1% over the past year (from $174,900).
- Average home values ($192,383) declined 1% over the past year (from $194,932).
Amidst higher sales, higher contracts, and slightly lower prices, inventory levels continue to decline....
It is also important to note that interest rates have started to increase (a bit) over the past several months....
As always, learn lots more by downloading the full February 2013 Harrisonburg & Rockingham County Real Estate Market Report.
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.
