Virginia Association of Realtors says state’s housing market is recovering
- February 6, 2013
The Virginia Association of Realtors released a report Wednesday that says the state’s home sales market is in recovery. The “Pieces of Home 2012 Housing Market Report” says Virginia saw an 8 percent growth year-over-year in home sales in 2012. Nearly every month last year the home sales market experienced higher sales when compared with the same month in 2011.
However, some regions fared better than others. According to the VAR, the Central Virginia and Northern Virginia regions led the way with 11% and 9% growth respectively, though the Central Shenandoah Valley (+8%) and Roanoke / Lynchburg / Blacksburg (+7%) weren’t far behind. Two of the smaller regions, (Southside
Virginia and Southwest Virginia) experienced modest declines (-3%, -1%) in buyer activity during 2012.
Another highlight from the report is that Virginia’s median sales price increased 7 percent year-over-year, to $240,000. Home prices were higher than that in Northern Virginia. The report includes housing data, trends and comparisons, and articles by real estate experts from across the commonwealth.