September 2009Harrisonburg & Rockingham CountyReal Estate Market Report

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

October 8, 2009

17// 3:1:3

Perhaps as a result of the $8,000 tax credit, this month we see that home sales

were not as low as could be expected given the year-to-date trends. During the rst

nine months of this year, we have seen an overall decline of 21% in home sales, yetSeptember 2009 versus September 2008 only shows a 11% decline. Furthermore,both the median sales price and average sales price increased when comparingSeptember 2009 sales to September 2008 sales. The year-to-date median and

average sales prices are sll showing declines (4%, 2%), so we won’t call this a trendyet -- but hopefully a sign of posive changes to come.

Harrisonburg & Rockingham CountyOctober 8, 2009# Home Sales

20082009% ChangeSeptember



80 71 -11.25%

Year To Date



762603-20.87%

762603

20082009

Median Sales Price

20082009% ChangeSeptember



$199,942 $203,000 1.53%

Year To Date



$197,900$190,000-3.99%

$198k$189k

20082009

Average Sales Price

20082009% ChangeSeptember



$216,034 $219,781 1.73%

Year To Date



$223,704$219,956-1.68%

$225k$220k

Average Days on Market

20082009% ChangeSeptember



200 219 9.50%

Year To Date



16718913.17%

157190

20082009

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

October 8, 2009

17// 3:1:3

Between 2005 and 2008, sales declined an average of 28% between August andSeptember. This year, however, we have only seen an 8% decline in home sales.This, again, is likely an elevated number of home sales related to the $8,000 tax

credit to rst me home buyers. The deadline for closing on a home as a rst mebuyer to receive the $8,000 tax credit is November 30th, thus we will likely connueto see relavely strong sales through October and November, at least in the lower

price ranges, and as compared to previous years. Within the next month we shouldalso know whether Congress will extend this tax credit.

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

57758677715075

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 Sco P. Rogers, Associate Broker, Coldwell Banker Funkhouser Realtors. Data Source: Harrisonburg-Rockingham MLS.