Harrisonblog

With the economic turmoil that has been occurring in 2009, it seems fair to think that new construction is basically obsolete throughout the nation, let alone the local real estate market. However, there has been a lot of construction happening this year. How can that be? Construction material prices have plummeted over the past year or so, which means contractors (who are still contracting) are taking advantage of this business opportunity and building new homes.

Currently listed properties in Harrisonburg and Rockingham County (including Massanutten):

• 141 single family homes and townhomes
• Average home size: 3 bedrooms, 3 bathrooms, 2045 livable square feet
• Average days on the market: 145

73% of new construction is listed at prices below $250,000. 57% of new construction in our local market is townhome and duplex construction, whereas the other 43% are single family homes.

It makes sense that as homes get more expensive, they also get larger and have more bedrooms and bathrooms.

So what are the odds that you can buy a new house in the Harrisonburg or Rockingham County real estate market? Pretty good! 14% of homes currently on the market are brand new — circa 2009. And because new construction takes into consideration the way people like to live these days — with open spaces and large rooms — if you do end up purchasing a new home, you’ll likely have a good amount of open living space!