Arlington Virginia Housing Market a Hot Spot for Sales – Virginia Real Estate News
Want to know what is happening in Northern Virginia Real Estate Market? Check out this analysis
Written by - Visit ChrisBuysHousesVA.comPricing reality in the Williamsburg Virginia Housing Market.
Here is a take on real estate in the Williamsburg area from January 26, 2008 Virginia Gazette.
The Virginia Association of Realtors said home sales statewide fell 15% from 2006 to 2007. While home values continued to grow, by a little over 1%, they grew at a slower rate than they have on average over the last 30 years, more than 6%.
Indeed, during the housing boom of the last few years, the state experienced double-digit growth in home values.
Time on market in Virginia increased from 70 days to 88 days statewide, still below the historical average of 90 days.
Locally, the median price of a home in greater Williamsburg fell from $318,745 in 2006 to $295,000 in 2007 (see box).
Sales were off 12.5%.
However, average days on market hadn’t changed, it was 71 days each year, still up markedly from 56 days in 2004.
Linda Kinsman, executive director the Williamsburg Area Association of Realtors, put things in perspective.
“ Over the last five years the average price of a home here has increased 29 percent,” she said.
Hard times seem to be on the way — VAGazette.com (Link Broken)
Written by - Visit ChrisBuysHousesVA.comHousing outlook unchanged – Richmond, Virginia
Here is a recent update on the "Housing Market" in Richmond. The Richmond Times Dispatch January 25, 2008
Highlights:
The housing market in central Virginia is not likely to improve until the end of this year, housing experts say.
House sales in Virginia and the Richmond area fell last year — 15 percent for the state and 12 percent for the region — much like they did nationally, according to figures released yesterday by the Realtors’ association.
The median price of a single-family home fell to $217,800 in 2007, down 1.8 percent from 2006. The median is the midpoint, with half the homes selling for more and half for less.
Houses statewide stayed on the market an average of 88 days, up from 70 days in 2006. In the Richmond area, it took an average 58 days to sell a home, up from 46 days in 2006.
Source: Housing outlook unchanged – Richmond, Virginia, Business News and Financial Information – inRich.com
Written by - Visit ChrisBuysHousesVA.com