• Click Here to Subscribe to Email updates

  • psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813
  • RSS Colonial Williamsburg News

    • An error has occurred; the feed is probably down. Try again later.
  • Flickr Photos

  • Advertisements

Virginia Homes Sales Steadily Recovering for 2012

We are all taught that real estate is local but its always good to see how the other areas of your state are faring in the market.

If 2011 was a year of transition for Virginia home sales, 2012 was a year of strength in the residential housing market. Nearly every month during 2012 the residential home sales market experienced higher sales levels as compared to the same month during 2011. Many of these buyers committed to a home purchase because of increasing job stability and certainty, others purchased because of the historically low interest rates, and still others sensed that the bottom of the housing market had arrived, or even passed them by. While each of Virginia’s home buyers during 2012 may have purchased for their own individual reasons, collectively they helped surpass 2010 and 2011 home sales.

The Virginia Association of Realtors just released their annual  report for 2012. 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.The Virginia Association of Realtors just released their annual  report for 2012. The “Pieces of Home 2012 Housing Market Report” says Virginia saw an 8 percent growth year-over-year in home sales in 2012.

However, some regions fared better than others.  According to  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.

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.

Pieces of Home is a comprehensive housing market report including market data, trends and comparisons, articles by real estate experts from across the Commonwealth as well as an article from Governor Bob McDonnell on how Virginia has remained on top.

• Is it a buyers market or sellers market?
• Which Virginia region saw the greatest increase in home sales in 2012?
• Are foreclosures still lingering heavy in Virginia?
• How does the state compare to the US?
• How are mortgage lenders preparing for the new regulations?
• What do recent studies show regarding home pricing?

Click here to download the Pieces of Home 2012 Virginia Housing Market Report.

Advertisements

Richmond Virginia Home Sales Increasing

Total homes sales in the core area of Richmond — the city and Chesterfield, Hanover and Henrico counties — rose 1.6 percent in the third quarter from the same period a year ago.

Hanover and Henrico reported sales increases of more than 2 percent, according to a report released  by the Virginia Association of Realtors ( VAR).

In the greater Richmond Virginia area, prices remained flat. The median price for new and existing homes, with half the houses selling for more and half for less, was about $238,000.

Amid the national financial uncertainties and news about the economy and stock markets, the central Virginia and Richmond economy and housing market are outperforming the country and most metropolitan areas, according to an analysis included in yesterday’s VAR report.

Sales are still slipping in Virginia — and in the greater Richmond metropolitan area — but not nearly as much as they were in the first half of the year, according to the report.

Nationally, third-quarter figures are not available. However, sales of existing single-family homes fell 10.7 percent in August from a year ago, according to the latest figures available from the National Association of Realtors. The median home price was $201,900 in August, down 9.7 percent from a year ago.

After nearly a year of sluggish sales and price depreciation, the housing market in Virginia is beginning to show signs of strength, said Lisa Fowler from the George Mason University School of Public Policy, who spoke yesterday during a news media conference call.

The state’s healthy economy is helping housing here as other markets continue to languish, Fowler said.

Home sales statewide fell 3.9 percent in the third quarter from the same period a year ago, according to the VAR report. The median price rose 1 percent to $232,601.

In central Virginia, which includes Richmond and 15 surrounding localities, sales fell 3.8 percent from a year ago.

The dip is mild compared with the first quarter when sales in the region dropped 31 percent in the first quarter and 28 percent in the second quarter from the year-ago periods.

The market in the Richmond area is stabilizing There is still a large inventory  of homes to choose from. We still need to see price reductions to increase sales.

The housing market across the state will benefit from a slowdown in construction, as inventory levels fall. Housing starts statewide are at their lowest level since the early 1990s.