Let’s just state the obvious: August rocked it.

There is literally nothing negative to report for August 2016 in our Harrisonburg Real Estate Market Report. So we’ll just skip to the highlights:

• There have been about the same number of new listings this year, but a nice jump in sales, which decreasing the inventory a bit, making the local market even more stable. (Sellers, do a happy dance!)
• More good news for sellers: 15% (year-over-year) – 20% (year-to-date) more homes are going under contract and in a shorter amount of time — spending just over three months on market, actually.
• The average price per square footage remains steady.
• Buyers continue to act quickly, with 483 homes going under contract within 30 days of list date over the past year.
• Plus, 114 homes have sold at a price over their final asking price.
• Finally, the median sales price in Harrisonburg and Rockingham County is now $186,000.

Needless to say, we are thrilled with how our local real estate market is shaping up this year. Sellers are selling quickly and getting about 96% of final asking price on average, buyers are active and ready to purchase, and the market as a whole remains stable and positive.

Thinking of buying or selling? Give us a shout. We’d love to chat about it with you!

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