Norfolk Real Estate Market Update October 2013

Norfolk Real Estate Market Update is a monthly report of real estate market statistics.   This information is for buyers and sellers that are currently in the real estate market or are thinking about getting in to the market.  Since Norfolk contains multiple zip codes this analysis may or may not be specific to your subdivision and should only be used as a tool to determine trend lines and a look at Norfolk as a whole.

In the month of October 2013 the median sold price in NORFOLK, VA was $179,000 and is an 11% increase over last year at this time. The number of properties sold was 214 which is a 12% increase over last year at this time.   Currently there are 1423 properties for sale which is a 2.30% increase as compared to last year at this time.  What does this mean to you?  Call or email me and I will answer that question!

Buyers and sellers should consult a Realtor for specific market updates in reference to your subdivision.  A CMA (Current Market Analysis) should be done prior to putting a listing on the market or making and receiving offers.   When visiting the website Norfolk Real Estate Market Update be sure to check for your zip code, if it is not listed please contact me directly for a specific CMA.     

 http://www.youtube.com/watch?v=gaA_aiW_Ke4&feature=c4-overview&list=UUs2mgfnkhbtzQ9zO5ucD4EA

All data was pulled from REIN for Norfolk Real Estate Market Update.

Doug Wolfe, Principal Broker, Town Real Estate Group, doug@tregva.com, www.BetterCallDoug.com

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