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Archive for September 2013

Hampton Roads Real Estate is HOT!!!

As summer’s end nears, the Hampton Roads real estate market remains hot with August yearover- year increases across the board, including residential listings for sale, pending sales and settled sales. For the first time in 31 months the number of residential listings for sale has increased year-overyear. There were 0.85% more residential homes listed for sale in August 2013 than there were in August 2012. The Hampton Roads market hasn’t seen an increase in this segment of the market since January 2011. Of the region’s seven major cities (Chesapeake, Hampton, Newport News, Norfolk, Portsmouth, Suffolk, Virginia Beach) Norfolk and Suffolk saw the largest increases at 8.55% and 4.6% respectively, while Newport News and Chesapeake each decreased 7.04% and 5.20%.