Wednesday, July 22, 2009
Hello Hampton Roads,
The most recent stats are derived from the REIN (Real Estate Information Network) MLS and portrays the state of the Hampton Roads housing market June 2009 sales information to that of the previous year:
City Jun-08 Jun-09
Virginia Beach
Avg List Price $470,462.00 $462,107.00 Median List Price $327,482.00 $315,000.00 Avg Sales Price $318,937.00 $293,382.00 Median Sales Price $250,000.00 $243,750.00
Chesapeake
Avg List Price $361,432.00 $329,627.00 Median List Price $328,900.00 $305,950.00 Avg Sales Price $288,368.00 $270,431.00 Median Sales Price $280,000.00 $249,900.00
Norfolk
Avg List Price $322,591.00 $310,044.00 Median List Price $249,000.00 $229,900.00 Avg Sales Price $259,514.00 $223,649.00 Median Sales Price $200,000.00 $195,900.00
Portsmouth
Avg List Price $216,701.00 $196,167.00 Median List Price $187,000.00 $178,000.00 Avg Sales Price $197,209.00 $168,013.00 Median Sales Price $185,000.00 $163,000.00
Suffolk
Avg List Price $360,842.00 $329,564.00 Median List Price $309,900.00 $282,450.00 Avg Sales Price $311,898.00 $254,336.00 Median Sales Price $278,500.00 $234,900.00
Hampton
Avg List Price $255,984.00 $233,993.00 Median List Price $224,876.00 $199,900.00 Avg Sales Price $207,299.00 $190,897.00 Median Sales Price $192,000.00 $187,500.00
Newport News
Avg List Price $243,308.00 $221,751.00 Median List Price $224,000.00 $199,900.00 Avg Sales Price $210,151.00 $187,397.00 Median Sales Price $202,000.00 $189,000.00
What this shows us is that both list price and sales price for each city is down compared to a year ago. The lowest average sales price can be found in Portsmouth where the the average sold price is just above $168,000.00. The highest average sold price is in Virginia Beach, where the average sold price stands at $293,382.
The downward price trend is great news for buyers and investors alike. To view bargain properties feel free to visit http://www.HamptonRoadsRealEstate.us.
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