Median home prices slightly down across Virginia

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by Jessica Sabbath

Housing sales and prices are continuing to slow in Virginia.

The median home price in Virginia was $232,500 in November 2007, according to the Virginia Association of Realtors. That’s a 2 percent decrease from the $237,250 median home price in November 2006.

It also is taking longer than last year to sell a home. In November, homes spend an average of 136 days on the market. That’s up from 131 days in November 2006.

Some regions around the state saw increases in their median home prices, including Hampton Roads and Lynchburg.

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