Harrisonburg Area Real Estate Market Report: January 2014

So some of our faithful blog readers enjoy data and charts, and others just don’t. We get it. Poring over numbers isn’t for everyone. This became wildly obvious to us last month when we created an infographic portraying the key market stats rather than only showing our usual tables and graphs. Therefore, we’ve decided to give everyone the best of both worlds!

Now, you can quickly scroll through our monthly market reports and simply view and read what you want. No lengthy analyses. We’ll give you the visuals, and if we believe there is a need to expand on what you see, we’ll write a short blurb with our thoughts on the matter. At the end of each report, we’ll include a summary, for those of you who prefer the written word.

Enjoy the new visually stimulating market reports! First up: January 2014…

[ INFOGRAPHIC ]

Harrisonburg and Rockingham County Real Estate Stats: January 2014

[ TABLES ]

Harrisonburg and Rockingham County Real Estate: January 2014 Sales

Note the increases in sales, average sold/list percentage (the difference between a seller’s final list price versus the sales price… i.e. 100% = sales price is same as asking price), and average price per square foot!

Harrisonburg and Rockingham County Real Estate: January 2014 Contracts

Fewer contracts were written, but the contracts written were for higher prices, and those homes sat on the market for nearly two months less time.

[ GRAPHS ]

Harrisonburg and Rockingham County Real Estate Sales: Month to Month January 2014

Harrisonburg and Rockingham County Real Estate Sales vs Contracts: January 2014

Harrisonburg and Rockingham County Real Estate Contracts Month to Month: January 2014

Harrisonburg and Rockingham County Home Sales Prices vs List Prices: January 2014

[ SUMMARY ]

January is usually slow in the real estate world. The weather is frigid, folks are recovering from the busy holiday season, and still waiting on their tax returns. We (almost) always see a refreshing lift in sales and contracts throughout the spring months. However, we still saw an 8.5% increase in sales compared to last year at this time, along with an uptick of 3.2% in average sold/list percentage and 5.3% in average price per square foot. Plus, a decrease in average days on market of 47 days. All of these numbers bode well for the year to come. Starting off the year with a relatively strong January always gives us hope for the coming months. We believe this year will continue to be a buyers market, but that certain trends will occur positively for sellers as well, such as steady improvement in home values.

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