The housing market is still flourishing here in the Valley! New listings are up 12% YTD, and up 3% from last month. Buyer urgency, with homes closing in less than 30 days, has also increased 3% from last month. Total sales are up 8% from May 2023 and the average price per square foot is up 11% from last May; however it has decreased 1% from last month—a win for buyers! These market conditions present great opportunities for both buyers and sellers, making it an excellent time to enter the real estate market! Check out the full market report here >>>
Market Trends
Harrisonburg Real Estate Market Report: April 2024 [INFOGRAPHIC]
The housing market is blooming this Spring! The latest data reveals a 26% increase in new listings hitting compared to April 2023! New listings are also up by 9% YTD. While sales are down 13% from last April, sales are up 4% YTD. The number of homes under contract has also increased by 38% versus this month last year with this influx of new listings. These market conditions offer opportunities for both buyers and sellers, and it is still a great time to buy or sell a home! Check out the full market report here >>>
Harrisonburg Real Estate Market Report: March 2024 [INFOGRAPHIC]
Put your finger on the pulse of the real estate scene, where the winds of change are blowing! While 2023 saw a dip in new listings, sales, and contracts, 2024 is gearing up for a shift. The latest data reveals a remarkable 17% surge in new listings hitting the market from last month! While sales are down 3% from last March, they are up a whooping 12% YTD from 2023. Buyer urgency is on the rise in this spring market; with a 7% increase in homes closing within 30 days from last month. There has also been an 8% increase in homes sold over asking price from last month. And here's the cherry on top; we've seen average interest rates decrease slightly and remain balanced YTD compared to the rollercoaster of last year. These fluctuations bring a symphony of opportunities for both buyers and sellers, making it a prime time to make moves in the housing market! Check out the full market report here >>>
Harrisonburg Real Estate Market Report: January 2024 [INFOGRAPHIC]
As we delve into the current real estate landscape, it's evident that shifts are underway! While new listings, sales, and contracts showed a steadily declining trend in 2023, change is on the horizon for 2024. The number of listings hitting the market has increased—at last—this past month (by a whopping 34% no less)! Also positive is that both interest rates and the median number of days properties remain on the market has stabilized compared to last year. We're also seeing an uptick in homes closing within 30 days from last month. These fluctuations offer opportunities for both buyers and sellers alike, and it is still a great time to buy or sell a home! Check out the full market report here >>>
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! Check out the full market report here >>>
Harrisonburg Real Estate Market Report: November 2023 [INFOGRAPHIC]
We are still seeing a decreasing trend in new listings, sales, and contracts compared to last year. In correlation, the median number of days properties are remaining on the market has decreased. Additionally, both the median sales price and the average price per square foot have increased year to date—positive factors for sellers! View more of the market report here >>>