Home Sales Start 2013 With A Bang

Sales, Contracts Up In January For Local Real Estate Market

Posted: February 14, 2013

A four-bedroom home is for sale at 906 Circle Dr. in Harrisonburg. Realtors say the local market appears to be on the rebound based on 2012’s figures. (Photo by Michael Reilly / DN-R)

HARRISONBURG — Home sales started the year off strong in Harrisonburg and Rockingham County.


January saw 47 homes sold, up 21 percent compared to the same month in 2012 and 18 percent from the same month in 2011, according to figures from the Harrisonburg-Rockingham Association of Realtors compiled by local broker Scott Rogers.


Last month’s median and average sales prices, however, were down 18 percent and 11 percent, respectively, from January 2012.


Rogers, an associate broker with Funkhouser Real Estate Group, says in his monthly real estate wrap-up that January 2012 was an anomaly for prices, and the decline was only 1 percent when compared to the average for last year.


Median values were $159,500 in January, and average prices were $179,597.


Last month’s data comes on the heels of a strong performance in the local real estate market in 2012, in which sales increased year over year by 9 percent and prices remained stable.


The real estate association reported 864 total sales, up 70 from 2011. And contracts were up as well, with 981 entered last year, up 20 percent from 2011.


The number of contracts signed in January is another sign the local market is rising, with 76 signed compared to 59 in the same month last year.


Contracts generally turn into sales in a month or two.


After years of decline stemming from the housing bust that came to a head in 2008, Realtors say the local market appears to be on the rebound based on 2012’s figures.


January sales and contracts seem to indicate the upward trend could continue.


Contact Jeremy Hunt at 574-6273 or jhunt@dnronline.com

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