Average paid for Page County home over past six months $350,937
In the past seven years, home prices in Page County have more than doubled — rising by nearly 103 percent. In 2018, the average home sold for just $173,272. While Page County has consistently had the lowest average home values in the Northern Shenandoah Valley, it has now risen to nearly equal footing with Shenandoah County, who reported an average sold price of $378,735 in the first half of 2025.
Higher prices, however, coupled with higher interest rates and an overall higher cost of living, have slowed down the housing market in terms of sales. A total of 113 homes were sold in Page County over the first six months of the year, compared to 136 homes in the first half of 2024.
“I feel that we are seeing slower sales due to several factors,” said longtime Luray Realtor, Bill Dudley. “High interest rates, near the 7-percent range are certainly a negative force in the market. In the big picture, our current rates are really not that bad and we have seen much worse, but home buyers saw 2 and 3 percent [interest rates] over the last few years… but I just don’t think we will see that again.”
While those historically low interest rates helped fuel home sales across the country, the draw for those migrating from Northern Virginia and the D.C. /Metro region to Page County — lower prices, lower taxes and a lower cost of living — have now created higher home values.
“The increased cost for a home puts many want-to-be buyers out of the market,” said Dudley, and that especially holds true for local home buyers.
Another factor in the drop in local home sales has been the overall slowing of the economy. Supply chain issues, increased tarrifs on foreign goods, and the overall rise in inflation has meant higher prices in everything from fuel to food. Large cuts by employers, including the federal government (which effects our region), have also slowed down home buyers.
“The uncertainty in the economy regarding employment and the cost of daily living… and the volatility in the markets… have certainly put a damper on things and caused potential buyers to put off making the decision to buy a home,” Dudley added.
While home sales dropped 17 percent in Page County over the first six months of 2025 (compared to the first half of last year), neighboring Shenandoah County saw a decline of 6 percent during the same time period (from 303 to 284), and sales in Rockingham County and the City of Harrisonburg fell by 10 percent (from 680 to 610).
Homes for sale in Page County have stayed on the market about a week less than they did a year ago — an average of 59 days in the first half of 2024, compared to an average of 52 days over the last six months. During the local real estate market’s peak in 2022, Page County homes only stayed on the market an average of 32 days.
Homes sold for more than $250,000 now make up 73 percent of the housing market in Page County. However, the volume has slowed from 97 in the first six months of 2024, to 83 in the first half of 2025.
As of this week, there are about 95 active listings for homes in Page County — that’s up from about 75 six months ago.
“I can remember in Page County when a home sold for $100,000, which was a really big event. Costs driven by the increased cost of building materials is certainly a factor as well. We are starting to see more adjustments in listing prices downward, as some listings start to stay on the market longer,” said Dudley. “The next six-month report will be interesting.”
Rising home values are certain to greatly influence current reassessment efforts, which will be concluding soon. In the spring of 2024, the Page County Board of Supervisors awarded a two-year contract worth $537,624 to Cowan Appraisal to conduct the county’s next reassessment. The process to reassess Page County’s nearly 22,000 parcels began July 1, 2024 and will conclude in late 2025.
The new assessed values on real estate will start being released in October, and they will go into effect on Jan. 1, 2026. Those new — and likey higher — values will start impacting tax payments in the second half of the bi-annual billing cycle (due by June 5, 2026). December billing will be based on current values.
250 — 2023
$305,944 — 2023
$259,000 — 2023
53 — 2023
12 — 2023
139 — 2023
Be the first to comment