Virginia Beach is an independent city located in the South Hampton Roads area of Virginia, on the shores of the Chesapeake Bay and the Atlantic Ocean. It is the most populous city in Virginia and the 41st largest city in the United States, with an estimated population of 435,619 in 2006.
Norfolk Real Estate Sales Statistics – February 2009
March 31st, 2009 by Dave MacklinNorfolk real estate sales statistics for February 2009 show a 29 percent decrease when compared to February 2009 with 40 fewer homes sold. The averages sales price declined 23 percent and the median sales price declined 18 percent during the same time period. Market times increased 18 percent.
Norfolk Real Estate Sales Statistics – February 2009
|
Norfolk |
Sold |
Median |
Average Sale Price |
Average Days |
% Change in Units |
% Change Median Price |
|
February 2009 |
100 |
$164,500 |
$177,106 |
94 |
-28.57% |
-17.75% |
|
2008 |
140 |
$200,000 |
$229,815 |
80 |
|
|
The National Association of Realtors reported an increase in existing-home sales in February, reversing losses in January. Sales activity, however, remains relatively soft, reflecting additional layoffs and buyers waiting for housing provisions in the economic stimulus package to take effect.
Norfolk real estate sales did not reflect the national figures, making this a great time to buy a home, if you are looking for a long term investment. Now is not the time to buy and flip…but to buy and hold for 3,4 or 5 years.
To learn more about Norfolk real estate, please contact us at 866-222-0158 #550 or visit ButlerTeamHomes.com.
Interested in knowing what your Norfolk home is worth?
Visit HRHouseValue.com.
Statistics compiled from Real Estate Information Network. They are deemed reliable, but not guaranteed.
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