Hampton Roads Real Estate Market Update
Is your home worth $15,000 more than last year? Which way is the Hampton Roads real estate market heading? What's the future of home values: further appreciation or is the price decline right around the corner?
What's Happening In The Market?
Sales increased 6.8% from the month before and were up 10% year-over-year.
Prices improved in April 2018 with the median price for detached residential listings climbing 1.7% from the previous month. And, the median price is up 5.7% compared to last year from $279,000 to $294,900 (that is $15,000).
The average list price for detached residential listings went from $344,509 last year, to $361,565 this year. A yearly gain of 5.7%.
Inventory increased 4.8% from last month and was down -8.4% year-over-year.
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