H and rc only   market report - january 2013
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  • 1. Market Report January, 2013 Presented By: February 12, 2012
  • 2. Market Update – January, 2013The positive trends in the Harrisonburg and Rockingham County real estate market continued in January with strong sales, newcontracts and buyer activity. The Harrisonburg-Rockingham Association of REALTORS reported 47 residential sales inHarrisonburg and Rockingham County in January, the highest January total since January, 2008. In addition, buyers placedcontracts on 76 residential properties – the highest January total since January, 2007.This strong buyer activity in our market is a clear indicator of returning consumer confidence in real estate and the unleashing ofthe demand for homes which has been pent up for the past several years due to economic conditions. Leading indicators tell usthere is a wave of buyers becoming very active in their search for homes. Our company website, www.KlineMay.com , has talliedmore pageviews over the past four weeks than during any four weeks in our history, averaging over 50,000 per week. This kindof activity bodes very well for the 2013 market!It is our belief the increased demand from buyers, combined with the low inventory of homes for sale will begin to cause homeprices to rise in 2013, although they have not turned upwards yet. The three and one year trends in sold prices as of the end ofJanuary are: Three year change One year change Average Price Median Price Average Price MedianPrice -10.10% -6.99% -1.31% -1.09%Local market conditions look better now than they have in the past several years, and low interest rates are keeping homes veryaffordable. Will 2013 be the year normalcy returns to our market? We think the answer will be a resounding “yes’!Karl WaizeckerBroker, Kline May Realty
  • 3. Residential Units Sold by Area, Year to Date Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 4. Average Sales Price by Area, Year to Date Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 5. Months Supply of Inventory by Area Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 6. Harrisonburg & Rockingham Residential Sales per Month 2008 – 2013 140 120 100 2009 2010 80 2011 2012 60 2013 47 40 20 0 Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 7. Residential Properties Placed Under Contract, by Month Harrisonburg & Rockingham County 2010 – 2013120 109 100100 96 97 93 92 91 90 90 86 83 80 78 7880 76 73 70 70 69 66 66 65 66 63 58 58 5860 55 53 53 51 48 46 43 43 4140 3420 0 Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 8. Harrisonburg & Rockingham County Residential Sales Past 12 Months Sales, by Month 2010 – 2013950900850800750700650600 Jan.… Jan.… Jan.… June June June Sept. Sept. Sept. Nov. Nov. Nov. April April April Feb. Feb. Feb. July July July May Aug. Dec. May Aug. Dec. May Aug. Dec. March March Oct. Oct. March Oct. Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 9. Change in Residential Units Sold Compared to the Prior Year Harrisonburg & Rockingham County as of January 31 2008 - 2013 10 8 5 7 -1 0 -5 -5 -10 -14 -15 -20 -24 -25 2007 2008 2009 2010 2011 2012 Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 10. Harrisonburg & Rockingham County Monthly Average & Median Sold Price 2010 – 2013$250,000 Average$240,000 Sold Price Median$230,000 Sold Price$220,000$210,000$200,000 Jan. Average$190,000 $171,597$180,000$170,000$160,000 Jan. Median $159,500$150,000 Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 11. Harrisonburg & Rockingham County Average & Median Sold Price Rolling 12 Month Average 2010 – 2013$220,000 Average Sold Price$210,000 Average Price Median -10.10% over 3 yrs Sold Price -1.31% over 1 yr$200,000 12 Month Average$190,000 $192,383$180,000 12 Month Median$170,000 $173,000 Median Price -6.99% over 3 yrs$160,000 1.09% over 1 yr$150,000 Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 12. Harrisonburg Single Family & Townhome Listing Inventory 2010 – 2013400 Residential350 Townhomes Combined300250200 Combined 190150 Single Family100 95 Townhomes 9550 - Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 13. Rockingham County Single Family & Townhome Listing Inventory 2010 – 2013 700 Residential Townhomes 600 Combined 500 400 Combined 365 300 Single Family 313 200 100 Townhomes 52 - Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 14. Harrisonburg & Rockingham County Average Days on Market Rolling 12 Month Average 2010 – 2013 220 215 210 DOM 12 Month Average 205 216 Days 200 195 190 Days on Market +15.51% over 3 yrs 185 +2.37% over 1 yr 180 175 170 165 Source: Harrisonburg - Rockingham Association of REALTORS Multiple Listing Service, 2/12/2013
  • 15. Check our blog to see monthly Market Reports at: Blog.KlineMay.com