Imagine this: you’ve found your dream home, submitted what you thought was a strong offer, and then learned someone else offered thousands above asking price. Frustrating, right? This scenario is playing out frequently in certain Harrisonburg neighborhoods.

I decided to dig into the data by pulling MLS numbers from the past two years, looking specifically at the List Price to Sale Price Ratio (LP/SP %). When this number exceeds 100%, it means homes are selling above asking—a clear sign of a competitive market.

Here are the three neighborhoods where buyers are competing most aggressively:

#3 – Preston Heights

With homes selling for 2.35% over asking price and a median sale price of $450,000, Preston Heights has become a hotspot.

What makes it so desirable? It offers the perfect combination of solid construction, suburban comfort, and convenient access to parks and quality schools. Being a smaller neighborhood, inventory is naturally limited, creating more competition when homes do become available.

#2 – Ashby Heights

Moving up our list, Ashby Heights sees homes selling for an average of 3.36% above asking, with median prices around $420,000.

This neighborhood attracts move-up buyers and families looking for value without compromise. With its quiet streets, mature landscaping, and stellar reputation, listings here are rare and often receive multiple offers within days.

#1 – Hampshire Estates

Taking the top spot is Hampshire Estates with an impressive 5.22% over list price. There’s only been one sale here in the past two years (at $526,000), but it’s a strong indicator of demand.

This exclusive area features high-end homes in a prime location. The extremely low turnover means when listings appear, buyers come ready to compete with strong offers.

What This Means For You

If you’re a seller in one of these neighborhoods, you might have more leverage than you realize. Limited supply and strong demand often allow well-presented, properly-priced homes to command a premium.

If you’re a buyer interested in these areas, you’ll need a smart, competitive strategy. This means being ready to move quickly and working with an agent who knows how to navigate multiple-offer situations successfully.

Let’s Talk About Your Neighborhood

Curious about how your own neighborhood stacks up? Or wondering about a specific area you’re considering? I’d be happy to run a custom analysis based on your street or target neighborhoods.

Contact me, Luke W. Rogers, Realtor with Funkhouser Real Estate Group, at (540) 830-5097 or luke@lukewrogers.com. I’m here to help you make confident decisions in our competitive market!