How Much Has Your Home Value Increased Since You Bought It

If you bought a home in Harrisonburg or Rockingham County in the last decade or so, there's a good chance your home is worth meaningfully more today than what you paid for it.

The graph above takes a look at the median sales price (of detached homes) each year going back to 2016... and compares that value to the median sales price today.  

The median sales price for a detached home in our area is currently around $393,000. 

Here's how that current median sales price compares to some years gone by...

• If you bought in 2016 at the median price of $214,000 your home might be worth around $179,000 more today.
• If you bought in 2019 at $240,000 you could be looking at a gain of around $153,000.
• If you bought in 2021 you may have gained about $101,500 in value.
• If you bought in 2023 at $350,000 you could still have seen a solid $43,000 increase in just a couple of years.

Now, an important caveat... these numbers are based on median sales prices -- and no single home will necessarily track median sales prices.  Home values of individual properties vary quite a bit depending on the neighborhood, condition, size, etc. 

Let me know if you have been curious what your home might be worth today.