August 2009Harrisonburg & Rockingham CountyReal Estate Market Report

and Scott P. Rogers, Associate Broker,Coldwell Banker Funkhouser Realtors provided courtesy of

September 8, 2009

17// 3:1:3

The overall pace of home sales continues to decline in Harrisonburg andRockingham County with a 27% decline year over year from 106 sales in August

2008 to 77 sales in August 2009. The year-to-date gures show a 22% decline

from 682 sales in 2008 to 532 sales in 2009. Median and average sales prices,however, have both only shifted 5% (downward) over the past year, which isthe silver lining amidst the continuing decline in sales pace. Of note, this chartand all other charts and graphs in this report are based on all real estate activity recorded in the Harrisonburg/Rockingham Multiple Listing Service.

Harrisonburg & Rockingham CountySeptember 8, 2009# Home Sales

20082009% ChangeAugust



106 77 -27.36%

Year To Date



682532-21.99%

682532

20082009

Median Sales Price

20082009% ChangeAugust



$191,500 $190,000 -0.78%

Year To Date



$197,650$189,000-4.38%

$198k$189k

20082009

Average Sales Price

20082009% ChangeAugust



$231,653 $210,042 -9.33%

Year To Date



$224,604$219,979-2.06%

$225k$220k

Average Days on Market

20082009% ChangeAugust



170 158 -7.06%

Year To Date



16318513.50%

157190

20082009

A Central Shenandoah Valley Real Estate Update courtesy of Scott P. Rogers, Associate Broker, Coldwell Banker Funkhouser Realtors. Data Source: Harrisonburg-Rockingham MLS.

September 8, 2009

17// 3:1:3

After an exciting July, with home sales matching last July’s sales pace, in August wenow see a return to the trend that we have seen for most of 2009. The numberof residential properties selling in Harrisonburg and Rockingham County is again

roughly 25% below the sales levels from 2008. The nal few months of the year

still show promise, due to the potential sales increased related to the tail end of

the rst time buyer $8,000 tax credit, and the extraordinarily slow September

through November of last year. It seems nearly impossible to meet the overallpace of 2008 this year, but hopefully we will pull closer as the year ends.

200

Month-By-Month Home Sales History

20052006175200720082009125150

C o n d o S a l e s

95100

, T o w n h o m e

577586775075

S i n g l e F a m i l

3751250JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

A Central Shenandoah Valley Real Estate Update courtesy of Scott P. Rogers, Associate Broker, Coldwell Banker Funkhouser Realtors. Data Source: Harrisonburg-Rockingham MLS.