Virginia Beach Real Estate: South Hampton Roads Market Report June 2006

Easy is a good description for summer living, as well as, the South Hampton Roads real estate market.

Easy is a good description for summer living, as well as, the South Hampton Roads real estate market. Sales in June slowed considerably compared to June 2005.

The number of sold listings decreased by 6% this June compared to June 2005. In addition, the average market time increased 76% or 19 days. However, values continue to rise with the average sales price 9% higher than last year.

What does all this mean?

Buyers have more homes to choose from and can be more discriminating when choosing a home. They will look more closely at condition than they did a year ago and won’t be willing to accept a home that needs a lot of updating.

Sellers will need to build in more market time into their plans while keeping an eye on an appreciating market. Pricing will be key, but so will condition. Sellers will want to get that “Honey Do” list completed prior to putting a sign in the yard.

We are Accredited Buyer Representatives (ABR) and Certified Residential Specialists(CRS). These two designations are the top in our industry. These along with my years of experience make me your perfect choice in a Realtor!

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