Virginia housing market seeing huge demand
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By: Erica Greenway
and last updated 2021-04-19 12:06:05-04
NORFOLK, Va. - The competition to buy a new home right now is fierce. I think it s fair to call the housing market in Virginia pretty frenzied, said Dr. Lisa Sturtevant, Virginia REALTORS
® Chief Economist, Competition for homes is at pace we really haven t seen in many, many years.
In Hampton Roads, sales were up eleven percent in February compared to last year and prices were up twelve percent.
Dr. Sturtevant says the pandemic has accelerated some of the demand, but a big part of it is because of competing demographics.
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Virginia housing market off to strong start in 2021
Published Thursday, Feb. 18, 2021, 9:36 am
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® on Thursday shows a strong start to Virginia’s housing market in 2021.
There were 8,806 home sales in Virginia in January, which is more than 2,000 more sales than January 2020, an increase of 31.1 percent. The median home sales price statewide was $315,000 in January, up 12.5 percent from a year ago.
This is the sixth consecutive month of double-digit price increases, a trend which has occurred across most regions in Virginia.