Harrisonburg Real Estate Market Report [INFOGRAPHIC]: August 2016

Harrisonburg Real Estate Market Report [INFOGRAPHIC]: August 2016 | Harrisonblog

Local Real Estate Marketing >> In a Nutshell

Let’s just state the obvious: August rocked it.

There is literally nothing negative to report for August 2016 in our Harrisonburg Real Estate Market Report. So we’ll just skip to the highlights:

  • There have been about the same number of new listings this year, but a nice jump in sales, which decreasing the inventory a bit, making the local market even more stable. (Sellers, do a happy dance!)
  • More good news for sellers: 15% (year-over-year) – 20% (year-to-date) more homes are going under contract and in a shorter amount of time — spending just over three months on market, actually.
  • The average price per square footage remains steady.
  • Buyers continue to act quickly, with 483 homes going under contract within 30 days of list date over the past year.
  • Plus, 114 homes have sold at a price over their final asking price.
  • Finally, the median sales price in Harrisonburg and Rockingham County is now $186,000.

Needless to say, we are thrilled with how our local real estate market is shaping up this year. Sellers are selling quickly and getting about 96% of final asking price on average, buyers are active and ready to purchase, and the market as a whole remains stable and positive.

Thinking of buying or selling? Give us a shout. We’d love to chat about it with you!

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

View our featured listing at 2914 Cullison Court! It’s a beautiful one-level duplex near shopping, restaurants, golf, Sentara RMH, and JMU. Watch the video tour at 2914cullison.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.