As I wrote in a post a couple of days ago, home prices in the Harrisonburg area did not drop significantly in 2008. When I ask friends and clients how much they think prices have dropped, on average, from 2007 to 2008, the answer is reliably between 10% and 25%....
Market Trends
Shout It from the Rooftops — Home Values Have Not Dropped (Significantly)
There’s no glossing over the fact that 2008 was a difficult year to get a home sold. The demand for homes decreased due to tightening loan requirements (which is largely a good thing) and a rather poignant feeling of caution among buyers. The sharply receding economy has produced those fears,...
Local Housing Market “Dramatically” Slower
An interesting article published by the Daily News Record: While Harrisonburg has escaped the sky-high foreclosure rates seen elsewhere around the country, slowing home sales have still hit the area hard. Click here to read the rest of the article.
Who’s Buying Real Estate… and Who’s Not
The National Association of REALTORS (NAR) surveys home buyers and sellers on an annual basis, and they have published their findings for 2008. Here is a glimpse at the type of folks buying: Married Couples: 61% Single Women: 20% Single Men: 10% Unmarried Couples: 7% Other: 2% Compared to the...
Market Report: November 2008
As promised, here is a report with statistics on the local real estate market for November. (Source: Harrisonburg-Rockingham Association of Realtors Multiple Listing Service.) Harrisonburg: Total New Listings: 33 Median Sales Price: $170,806 Average Sales Price: $184,997 Average Days on Market: 133 Rockingham County: Total New Listings: 55 Median Sales...
3rd Quarter Virginia Home Sales Stats Are In!
The Virginia Association of REALTORS (VAR) has just published the 2008 Quarter 3 home sales statistics. See below for home sales versus 2007 3rd quarter sales in Harrisonburg and Rockingham County. ——————————————————————————— Harrisonburg / Rockingham County 3rd Quarter 2008 Data Q3 2008 Home Sales: 280 Q3 2007 Home Sales: 353...