Harrisonburg Real Estate Market Report [INFOGRAPHIC]: April 2016

Harrisonburg Real Estate Market Report [INFOGRAPHIC]: April 2016 | The Harrisonburg Homes Team @ Kline May Realty

Local Real Estate Market >> In a Nutshell

With four months of 2016 in the books, the Harrisonburg and Rockingham County real estate market is cruising along nicely. Actually, let’s call it “speeding.” The spring market is a seriously busy time. So far this year, we’ve seen plenty of new listings hit the market, and more times than not, they go under contract within a month or two. Buyers are excited and active, and sellers are closing quickly and for top dollar!

Take a look at April’s highlights

  • 198 new residential listings came on the market, which is up 22% from last April.
  • We saw a 23% increase in sales this April versus last April.
  • Contracts are still strong — only down 2%.
  • Average price per square foot was at $110 — up 4% from last April.

The Bigger Picture Tells a Thrilling Story

Looking at the big picture — year-to-date and year-over-year — gives us a better idea of how the market is really performing. Key takeaways include:

  • A 14% increase in new listings. Sellers are selling!
  • A significant increase in sales — 25% year-to-date and 14% year-over-year.
  • An uptick in contracts written of 26% year-to-date and 8% year-over-year.
  • Stability in length of time on the market, average price per square foot, and the percentage of total sales price that sellers are getting.
  • Buyers are expressing urgency, with 440 homes going under contract within 30 days of list date. That is up 2.6% year-over-year.
  • Median sales price continues to remain stable around $186,000 for the Harrisonburg/Rockingham residential market, which is up 3% from last year at this time.

We are excited to see how home buyers and sellers shape the local market over the next few months as a majority of the contracts mentioned above turn into sales. If you are thinking of buying or selling a home in the area, now is a fantastic time to make your move. We’d love to help you, answer your questions, and walk you through the process smoothly. Send us a message to get started!

Stay tuned for more Market Trends… right here on Harrisonblog.

View our featured listing at 1014 Peake Mountain Road! It’s an incredibly spacious home in a charming farmette on 5.75 acres with a full basement apartment in the TA School District. Watch the VIDEO TOUR at 1014peakemountain.com.

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About Lisa Oates

Lisa is the creative mind behind The Harrisonburg Homes Team, providing streamlined content management, quality authorship, and graphic design for Harrisonblog. She's passionate about blogging, enjoying life, and a good cup of coffee.

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