It might be cold here in Hampton Roads but the Real Estate marketing is heating up. 2013 was a great year for the area. Recovery is happing in all areas.
Stats from December 2012 compared to December 2013
Total Property Active Listings increase of 3.46%
Total Property Sales increased of 10.23%
Months’ Supply Inventory DECREASED -7.78% This is the lowest recorded month’s supply of inventory since REIN began monitoring this statistic.
A Balanced market has about 6 months of inventory supply. We are currently at about 5.45%
SELLERS are feeling a bit of strength with decreased inventory and selection for buyers. Prices are stable in most areas but there is still a slow decrease of value due to short sales and bank owned property still.
Median sales price did drop in 2013 from 200k to 197,745.
Looking to buy sell or invest this year , we would love help. Visit Http://www.BuyHamptonRoadsHomes.com Register and send us a message.