Harrisonburg Real Estate Market Report [INFOGRAPHIC]: May 2016

Harrisonburg Real Estate Market Report [INFOGRAPHIC]: May 2016 | The Harrisonburg Homes Team

Local Real Estate Market >> In a Nutshell

The Harrisonburg and Rockingham County real estate market is continuing on an upward trend, with healthy numbers across the board! We’re thrilled with how the local market is faring this year. Home buyers are able to find what they’re looking for, and sellers are able to sell quickly and for prices they’re happy with.

Let’s get down to the nitty gritty. Here are some key stats from May:

  • We’re seeing a uptick in new listings — 14% more than last year, to be exact.
  • Sales are increasing steadily at +29% year-to-date and +16% year-over-year.
  • Buyers are active! Contracts are up 40% year-to-date and 31% year-over-year, plus buyers are acting quickly with 455 total sales over the past year going under contract within 30 days of list date (which is up 3.4% from last year at this time).
  • Good news for sellers! Homes are sitting on the market for an average of about 2.5 – 3 months before going under contract. That is down approximately 5% from last year at this time.
  • Average price per square foot is holding steady at $109 year-to-date and $107 year-over-year.

Moral of the story: If you are thinking of selling your home, now is great time to make your move (pardon the pun). If you’re “on the fence” about buying, find out if you’re ready. We’ve got a quick and easy checklist for that! If you have questions about the real estate market, buying, or selling, let us know. We’d be glad to help!

Stay tuned for more Market Trends… right here on Harrisonblog.

View our featured listing at 1018 Summit Avenue! It’s a 3-level home in the city with Million Dollar panoramic mountain and city views. Watch the VIDEO TOUR at 1018summit.com.

About Lisa Oates

Lisa is the creative mind behind The Harrisonburg Homes Team, providing streamlined content management, quality authorship, and graphic design for Harrisonblog. She's passionate about blogging, enjoying life, and a good cup of coffee.