Virginia Beach NorthEast market report

Virginia Beach North End
Virginia Beach North End

2017 has ended and the data is available giving up a view of what to expect in 2018.

  • New listings as of this report are 10,720, and increase of 1.9%
  • 4 month supply, a 4.8 decrease  [ healthy market has 6  months ]
  • Average home sale is 307K representing an increase of 3%
  • Listed homes have decreased by 3.1%
  • Pending sales currently standing at 7,380 up by 1.7%
  • Time a home is on the market until sold is 33 days, down by 5.7%

Our Real estate market didn’t see a slow down due to the Holidays or the winter,  we suspect that this trend will continue well in to 2018.   A large driving force is that interest rates are projected to be increased again and buyers want to have more buying power.

 

Virginia Beach Northeast

 

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