Question : I think Virginia Beach has the best median household income, at 65K. 3 x 65K (conventional figure) puts the median price around $190K. I think we are at $300K median asking price for the region.
Answer: According to a report I just ran ( sold home prices last 12 months 2007-2008 for the region that includes Norfolk, Portsmouth, Chesapeake, Virignia Beach, Suffolk, Hampton, Isle Of Wight, Newport News, York , Williamsburg, James City County) the median price was $230,000.
All figures are derived from REIN ( Real Esate Information Network)
If I run the same report for Virginia Beach the Median Price for sold homes was $250,000. As of point of comparison the median price for homes sold in 2000-2001 for the Hampton Roads region was $117,995
Filed under: General Area Information Hampton Roads Virginia, Real Estate information | Tagged: hampton roads home prices, hampton roads real estate | Leave a comment »
Mr Williamsburg, Revolutionary ideas on real estate!Hampton Roads Virginia 