The real estate market in Coastal Virginia Hampton Roads is not only seeing a record-high volume in home sales, but also a continual drop in the number of active listings. This is a combination that has created low supply and rising prices for home shoppers in our region.
Residential active listings fell again in November, and according to data compiled by REIN, Real Estate Information Network, our local multiple listing service, the Month’s Supply of Inventory (MSI) now stands at just 1.09 - the lowest not only of the year, but the lowest since 2009 when REIN began track this information.
MSI is a calculation of how long it would take for all inventory to be sold if no new properties came on the market. With the number of active listings so low, and demand remaining steady, we are still in a strong seller’s market, which is the case throughout the country.
I have more information on all of these stats. Let me know if you would like more details. Tracking and analyzing stats are key in the sales strategies I use for each type of transaction, and this information will help ensure we get you the best deal overall, in the shortest time possible and with the least amount of hassle.
It is still a great time to buy or sell. Real estate is local; contact me for specific information and the market stats for your neighborhood and what that means for YOU!
October Market stats.
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Monthly motivation
The new year stands before us, like a chapter in a book, waiting to be written.
Melody Beattie
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Thank you, Thank you Thank you!
My promise is to provide you Exceptional Service and Results!
Thank you to all my clients, friends and colleagues who have supported me along the way. This year marks my 13th year in real estate, and it has been my privilege and pleasure to be of service and help so many people successfully buy and sell their homes and investment properties.
Found out what YOUR home is really worth!
My complimentary valuation includes: an estimate of the current value of your home, comparable properties that have sold nearest you, and a suggested listing price. I can confidently say my expert valuation has higher accuracy than any online valuation source. I have resources available to help buyers determine their buying power too!
Please don't hesitate to contact me whether you are thinking of buying or selling, have general real estate questions or have a referral. I am always happy to be of service.
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