I'm encouraged that our economical & financial analysts have a positive outlook toward things turning around sooner than later. Since we had such a strong real estate market going into this unfortunate season, we should be able to rebound rather quickly. Take a look at this article from:
So, what's going on in Hampton Roads Real Estate? Every Realtor I know will tell you that they are surprisingly busy! Now we know that "busy" doesn't necessarily translate into homes being sold so let's look at the data:
From April 23-May 23, 2019 in Hampton, Newport News, & Yorktown there were 546 closed home sales with an average of 33 days on market and a sales price/sq ft of $119.46.
Today, same area, same date range for 2020, we are looking at 443 homes that have sold withan average of 37 days on market at a sales price/sq ft of $123.
Personally in the last 30 days, I've listed 8 new homes, put 4 under contract and sold 4 in Newport News, Yorktown, & Gloucester, so yes, Jennifer & I have been busy resulting in sales and new listings!
All things considered, it looks like we are still in a great place real estate wise in our local area and will only see continued improvement in the upcoming months as we are released to "normalcy"!
Hope you have a wonderful Memorial Day Weekend with those you get to celebrate with!
Wishing you much peace and joy from my home to yours, Dana
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