School is out for the summer. Wow, hard to believe it's June and this year is going by so fast. May sales figures have finally come in and the team at Williams & Associates wants to talk about what these figures mean for Harrisonburg City and Rockingham County.
The first figure we wanted to discuss is the Number of Listings that Sold. There have been 147 listings that Sold in May 2019. That is 12.21% increase from last year where 131 listings sold. There was a 30% increase from the month of April. April only had 113 listings that sold.
Secondly, is the Median Days on Market. In May the median days on market was 18 days. That is the same as the following year at 18 days. In April the median days on market was 28 days. That means that homes sold in the month of May, 10 days faster than April, which is a 35.71% decrease of days on the market.
The most interesting figure is the Median List and Sold Price in the month of May. In Harrisonburg and Rockingham County the median list and sold price is at an ALL TIME HIGH. The median list price in May was $230,500, the median sold price was $230,000. So, properties are getting Close to Asking Price. This is an interesting figure because if you look at the figures for the month of April the median list price was $209,900 and the median sold price is $212,900. If you look at the figures, they are showing there is clear need for more inventory on the market. Last year the median list price was $225,900 and median sold price was $222,000, which is a 5% Increase in the Sold Price.
These figures show that in Harrisonburg City and Rockingham County, the Market is Fast and is moving at a steady pace. The market for buyers is Very Competitive and Buyers Need to be Prepared. The Team at Williams & Associates would love to help assist you in selling your home in this fast paced market or help buyers quickly grab their dream home.
*All data are based upon the MLS from the Harrisonburg Rockingham Association of Realtors ®