Which High School District Has the Hottest Real Estate Market?

School districts are of great importance to many people shopping for homes.  Therefore, I am constantly making searches for clients by school district.  In this same line of thought, I thought it would be fun to compare sales statistics between districts thus far in 2017.  Keep in mind that this is a gross overview of residential sales and there are a lot of variables including neighborhoods, acreage, and property type.

Number of Sales

In sheer volume, it is no surprise that the Harrisonburg High School has the most sales thus far in 2017.  In fact, Harrisonburg sales are 56% higher than Spotswood, which is second place in volume of sales. 

Median Days on the Market

Again, Harrisonburg is a clear victor when comparing median days on the market thus far in 2017.  The next fastest selling market is East Rock which is still 54% slower than the median sales in Harrisonburg. 

Median List Price Vs Median Sales Price

Finally, Spotswood district soars ahead with median sales and list price thus far in 2017.  To my surprise, East Rockingham School district has the next highest median sales price and is 17% under Spotswood.  

It may come as a surprise that Harrisonburg's median sales price was significantly less than Spotswood but this can be explained by a higher volume of cheaper housing.  There were 31 houses sold under $100,000 in Harrisonburg so far in 2017, most of these sales are Hunters Ridge Condo's.  ​

Conclusion

So is there a clear "hottest market?"  I would argue that Harrisonburg is the hottest market as the most volume is being sold at the quickest pace.  

Call or email me if you are interested in the valuation of your neighborhood or house or have any questions.