Harrisonburg Real Estate Market Report: December 2023 [INFOGRAPHIC]

While we are still seeing a decreasing trend in new listings, sales, and contracts compared to last year, the real estate market is changing. Interest rates have (at last) dropped this past month and the Federal Reserve has indicated there will be additional rate decreases coming in 2024. The median number of days properties remain on the market has evened out with last year’s numbers and the number of homes that closed within 30 days is up from last month. Additionally, while both the median sales price and the average price per square foot have continuously increased throughout 2023, both numbers are down compared with December 2022. These changes can be positive for both buyers and sellers, and it is still a great time to buy or sell a home!

Want to know more about our dynamic real estate market? Consult with one of our real estate experts to get more specific insights into market conditions in your neighborhood and to help you make an informed decision about listing your home. We can provide guidance on pricing, marketing strategies, and the overall selling process tailored to your particular area. If you have any questions about putting your house on the market this year, please contact us!

If you're interested in starting the home search, we'd be more than happy to guide you through the ins and outs of purchasing from contract to closing. Stay tuned for more Market Trends… right here on Harrisonblog.

About Celeste Baker

Celeste graduated from the University of Virginia in 2011 with a bachelors degree in Sociology before starting her career in Real Estate Administration. Celeste assists the team of agents with transaction processing and marketing. Celeste Baker is a native of Woodbridge, VA. She moved to Harrisonburg in 2020 with her husband, Calvin, and their two children, after Calvin accepted a job with JMU. Go Dukes! Outside of the office, Celeste enjoys traveling with her family. She is a lover of books, as well as an amateur chef and gardener.