The median sales price for a home in Harrisonburg and Rockingham County in the third quarter of 2021 was $73,050 more than the median sales price of a home in the city and county over the same period just four years ago, according to data from the Virginia Association of Realtors.

In the third quarter of 2017, the median price for a home in Harrisonburg and Rockingham was $204,750, while in the same period this year it was $277,800 — a 35% jump.

The increased prices for homes has also powered a near doubling in total sold-home values over the same four years in the third quarter since 2017, according to the data.

In the third quarter of 2017, $76.3 million worth of homes were sold in Harrisonburg and Rockingham, while this year just over $147 million worth of homes were sold, according to the data.

More than roughly $17.5 million worth of homes were sold in Rockingham County over the third quarter of this year than last year, while only $6.2 million more of homes were sold in the city.

Days on the market dropped by more than 50% in both the city and county in the third quarter of this year compared to last.

Last year, the average Harrisonburg home was on the market for 32 days while the average home in Rockingham was on the market for 45 days.

This year, the average Harrisonburg home was on the market for 14 days while the average home in Rockingham was on the market for 21 days, according to the data.

Median days on the market for homes in Harrisonburg and Rockingham dropped by nearly 45% — from nine in the third quarter of 2020 to five in the third quarter of 2021, according to data from the Harrisonburg-Rockingham Association of Realtors.

Active listings were down nearly 10% at the end of the third quarter this year compared to last and the 30-year fixed-rate mortgage rate was 3.01% in September — up from September 2020, according to the Virginia Association of Realtors data.

Contact Ian Munro at 574-6278 or imunro@dnronline.com. Follow Ian on Twitter @iamIanMunro

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