September Market Trends: Hampton roads year-to-date real estate market trends.
- ACTIVE LISTINGS ….. DECLINE BY 13.46%
- PENDING SALES ….. GREW BY 30.14
- SETTLED SALES ….. GREW BY 2,422
- SETTLED SALES ….. INCREASED BY 13.07%
- MEDIAN SALES ….. PRICE GREW BY 6.34%
- MEDIAN SALES ….. PRICE IS $249,900
Hampton roads home owners can expect to see their home values have increase since 2018. The area has seen an overall increase of over well 6%. This increase is due to the continued decline of available housing. Inventory has decreased since last year by 13.46%, this is a massive shortage of inventory that has resulted in an increase of the median sales price from last years high of 235,000 to a new high of $249,000.
As a result of the the interest rates, buyers are out hunting for homes, pending sales have out paced last years by over 30%.
If there was a great time to get your home sold it would be now. Contact our office using this form and our local real estate professional will be in contact to schedule your no obligation consultation.
Sean Schroeder, Licensed Sales Agent since 2004