Dec 16, 2011
Long-term trends show returning stability in Virginia’s housing market
16 Dec 2011
Posted by Stacey Ricks
Despite a 3.4% year-over-year decline in the pace of home sales in Virginia (November to November), long-term trends show only a modest decline in over the past year. There have been 75,578 home sales this year between January through November, as compared to 77,101 between January and November last year. This 1.9% decline in year-to-date figures despite the absence of a federal home buyer tax credit in 2011 is an indicator that Virginia’s housing market is slowly regaining strength.
Download the full November 2011 Virginia Home Sales Report below as a PDF which also highlights:
- Monthly median sales prices decreased 2.2% between November 2009 and November 2011.
- Monthly sales volume decreased 8% between November 2010 and November 2011.
- Average days on market increased to 99 days in November 2011.