City SFH Assessments Down 1%, Sales Prices Up 3%

As reported in today's Daily News Record, assessed values in the City of Harrisonburg stayed relatively stable over the past year.  As shown above, the average assessed value of single family homes decreased 1% over the past year from $235,000 to $231,900.  In the same time period, average sales prices increased by 3%.

A few clarifying notes....

• The average assessed values are typically higher than average sales prices because the average assessed value includes all single family homes in the City, and the average sales price only includes those that have actually sold. 
   
  
• The reporting time frame for the two metrics shown on the graph above are a bit different based on the timing of the assessments, but you can still draw some general conclusions about trends.
  

Read more about the latest update to City of Harrisonburg assessed values in the DNR article or read more about market values at HarrisonburgHousingMarket.com.