Is The Hampton Roads Real Estate Market Crashing? | Chantel Ray Real Estate

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Is The Hampton Roads Real Estate Market Crashing?

Is The Hampton Roads Real Estate Market Crashing?


What's Happening In The Hampton Roads Real Estate Market?

Here’s what we know…

Right now, the average list price is up from $320,604 last year to $335,894 this year. That’s a $15,000 increase year over year and a $4,000 increase month over month.

Second, the active amount of listings are down by 5%. This means that there are less homes for sale currently.

Third, There were 1,617 homes sold last month which is .12% increase from last year this time.

Lastly, according to market watch, rates for home loans fell to the lowest they’ve been in a year and look great at 4.35%. Foreclosure rates are also down year over year in Virginia

So...

We’re NOT in a market crash, and now is the time to sell because:

  1. There are fewer homes on the market
  2. Interests rates are low
  3. Housing are selling for higher than ever

Take advantage of the market!

FIND OUT WHAT YOUR HOME'S WORTH IN TODAY'S MARKET!