Monthly Cost Of Median Priced Home Jumps Much Higher In 2022!
Wow. The monthly cost of a median priced home has jumped quite a bit in 2022! This is related to a variety of changes between 2021 and 2022... [1] The median sales price…
Are We Seeing A Big Slow Down In Home Sales Activity Locally?
If you read much national news you'll see plenty of headlines that say the housing market is slowing down... the housing market peaked... slower times are ahead for…
Sales of Not New Homes Are Increasing Too
What do we call homes that are not new homes? Resale homes? Used homes? Existing homes? Previously owned homes? :-) Last week I pointed out that we are seeing a rapid…
New Home Construction Is Ramping Up in Harrisonburg and Rockingham County
New home sales are on the rise in Harrisonburg and Rockingham County! After a 39% increase in new home sales in 2020, we saw an even larger 68% increase in 2021. What…
Reflecting On Large, Fast Changes In Mortgage Interest Rates
For at least the past five years, I have remained convinced that mortgage interest rates would start rising... anytime. But month after month, year after year, interest…
Lake Shenandoah Stormwater Control Authority to Construct New Taylor Spring Detention Basin
If you live in the Lake Shenandoah Drainage Area you are currently paying an additional tax alongside your real estate tax... with the new tax going to the Lake…
It Is Totally OK To Make Fast OR Slow Home Buying Decisions
The housing market in Harrisonburg and Rockingham County is moving very quickly right now. The median "days on market" is only five days... which means that half of homes…
Inventory Levels Have Been Dropping For Almost An Entire Decade
At the end of last month there were only 127 homes for sale in Harrisonburg and Rockingham County. Five years ago, at the end of April 2017, there were 411 homes for…
Home Sales Steady in 2022, Prices Still Rising Quickly!
Happy Thursday morning, friends! It's definitely spring in the Valley (cool mornings, warmer afternoons, lots of rain, lots of sun) and spring is a busy time for many!…
If Your Home Has Been On The Market For More Than __ Days And Is Not Under Contract, Ask Yourself Why!
Five short (long!?!) years ago -- back in 2017 -- the median days on market was 33 days. That is to say that half of homes that sold were under contract within 33 days…
Generally Speaking, The Larger The Home, The Lower The Price Per Square Foot
If all other attributes of two houses are the same or similar (age, condition, finishes, location, lot size) then we will almost always see the price per square foot…
Is The Harrisonburg Housing Market Nine Percent Overvalued?
There's a good article to read over at Fortune from earlier this week... FORTUNE: We're in a historically overvalued housing market, and these cities could see home…