We’ve been thrilled to be able to publish such positive trends occurring in the Harrisonburg real estate market so far this year, and June is no exception. 2013 continues to show us steadily positive results with increases in sales and sales prices, and a decrease in days on market compared to last year at this time. Check out all the stats:
Although sales dipped by two compared to May, sales year-over-year have increased by nearly 23%! Additionally, sales prices have seen an uptick as well, with +2.7% for average sales price and +1.8% for median sales price. Folks are purchasing larger homes this year compared to last, and these homes are sitting on the market for less time (about half a month).
Above is a quick glimpse of what the past 12 months have produced in terms of sales. We’ve seen three straight months of great sales numbers, and look forward to what July will bring!
To see how sales prices and sales have trended since January 2010, the chart above depicts the swings in sales prices and relatively steady sales numbers over time.
Moving on to contracts, we see that compared to May, June was nearly 33% down in contracts, but year-to-date contracts are up 23.3%! Of the homes going under contract, the list prices are a bit higher than last year, too, and days on market is down by about a month. Remember, not all of these contracts will turn into sales, but most will, so we look forward to continued strength in our sales numbers for the year.
So far this year, we’ve been able to report that contracts are up each month compared to the past three years, but not June 2013. Though contracts from this June are up compared to 2010, they are down compared to 2011 and 2012. However, this is just a slight decrease. Overall, contracts in 2013 have been very strong.
In summary, June has been a relatively strong month with sales rising by 22.6%, average sales prices up 2.7%, and days on market down by 6.4%. Plus, contracts year-to-date are up 23.3%! Buyers are still out writing contracts in Harrisonburg and Rockingham County, and sellers are seeing their homes sell faster and for slightly more money. This is a trend we are excited to see!
Stay tuned for more Market Trends, right here on Harrisonblog…