Local Home Prices Increase 32% In Five Years
The median sales price five years ago (2015) was $185,000 in Harrisonburg and Rockingham County. Last year, five years later, it was $244,900. That's a 32% increase in…
So, Will My House Sell For 10% More This Year Than Last?
It's a reasonable question. The median sales price increased from $223,000 to $244,900 between 2019 and 2020 -- which is a 10% increase. So, would your house sell for 10%…
My Predictions for the 2021 Real Estate Market
As I mentioned yesterday, my 2020 predictions for our local housing market were WAY off base. :-) I did not see such a strong market coming, and if I had known about…
Comparing My 2020 Housing Market Predictions To Reality
As shown above, I was terribly (!!!) inaccurate in predicting how many home sales would take place in Harrisonburg and Rockingham County in 2020. We saw a 1% increase in…
Home Sales Rise Around 12 Percent In 2020!
All home sales have not yet been reported but it is seems that we will see around a 12% increase in the pace of home sales in Harrisonburg and Rockingham County between…
Did Home Value Rise 20 Percent In Highland Park in 2020?
This post could also be called "The Dangers of Micro Market Analysis" as you'll discover... The graph above shows that the median sales price of homes in Highland Park…
Market Balance (Months of Supply) By Price Range
Most housing market analysts consider six months of inventory (active listings) to be an indicator of a balanced market (between buyers and sellers). We have been out of…
Do Detached Or Attached Homes Appreciate More Over Time?
Over the past five years, detached homes have increased slightly more in price (on average, per year) than attached homes (townhouses, duplexes, condos). Detached homes…
Harrisonburg Area Home Sales Up 10%, Prices Up 11% Thus Far In 2020
Happy Tuesday, friends! They say it might snow tomorrow. I'm currently seeing predictions of 6 to 9 inches. What is your best guess? We haven't had a sizable snowstorm in…
More Details On Preston Lake Apartments, Upscale Apartments Just Outside Harrisonburg
If you are in the market for a recently built, reasonably nice, non-student apartment in or near Harrisonburg, the only current option at scale (aside from much smaller…
Are You The Parent Of A JMU Student Looking To Buy A House For Your Son Or Daughter To Live In With Friends?
With some regularity, I'll hear from parents of JMU students who are interested in buying a house in Harrisonburg, near the JMU campus, with the intent of having their…
Will You Take Your House Off The Market This Winter?
In some ways, NO, you should NOT take your house off the market -- because inventory levels are very low. And yet, still, some sellers will still -- quite reasonably…