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We have always known Harrisonburg as the "Friendly City", but a new article published by Realtor.com has named Harrisonburg, VA one of the best cities for first-time home buyers in 2021.
With inventory levels at an all time low and median home prices steadily increasing (average 12-15% in 2020), metropolitan cities that are known for good jobs and ample things to do are becoming less affordable for first-time home buyers. Work from home opportunities are now allowing these buyers to look in smaller less known cities that offer the same benefits as a larger city.
According to the Harrisonburg VA Economic Development, the Shenandoah Valley attracts many industry leaders to our area due to the availability of a highly skilled and professional workforce as well as a "climate for technical innovation". Being the home of James Madison University and Eastern Mennonite University, Harrisonburg attracts an active work force in which 47% of the almost 54,000 residents are age 18-34.
As the spring and summer buying season heats up, the real estate market is only going to get more competitive. The average days a home currently is on the market in Harrisonburg is 8 or less, meaning you have to be pre-approved and ready to move quickly. In addition, with 66% of the residents in Harrisonburg renting, first-time home buyers will face tough competition with investors as well, so have a Realtor that is on your side with a plan in place to submit a competitive offer.
Stacey Treadway is a licensed Realtor in the Commonwealth of VA serving Harrisonburg and the surrounding counties. Contact Stacey at Coldwell Banker Premier in Harrisonburg VA or by calling/texting 540-810-8121.