Virginia Beach Real Estate Market Is Different

Virginia Beach Real Estate Market Is Different

houseThis was the headline of a recent advertisement in the VirginiaPilot...

Our Real Estate Market Is Different.

The ad continued to read:

It is important not to interpret current home prices and home price appreciation only in the context of the housing market of 2004-2005. Over the long term, home prices in Virginia have increased moderately -- and steadily.

  • In the 1990s, home prices in Virginia appreciated at an average of about 2% annually.
  • From 2000 through the 2nd quarter of 2006, average price increases were about 12% annually.
  • In the third quarter of 2007 (latest data available) the house price index for Virginia shows home prices up 3% compared to the 3rd quarter of 2006.

The average sales price for Virginia Beach real estate appreciated approximately 6% in 2007 compared to 2006. Read the full report.

Visit VirginiaBeachHomeSellers.com and have the current market value of your home emailed to you. And start your Virginia Beach home search here.

Virginia Beach Home Search  Virginia Beach Home Value  Virginia Beach New Home Listings

 
Posted by Dave Macklin on 03/16/2008 06:38 AM   Comments (2)   , ,  

2 Comments on Virginia Beach Real Estate Market Is Different

We should be lucky are area has any appreciation at all.  We have been lucky not to have faced some of the damaging market trends of other areas.  We still have people moving in and out regularly and although at times it takes 6 months to complete a sell at least we are not seeing foreclosed signs everywhere.

03/16/2008 01:19 PM by DeAndrea "Dee Dee" Jones The Hampton Roads Real Estate Lady! (Wainwright Real Estate)

Good information and I am happy to hear you saw some appreciation in your market while many other markets went flat.  Tell your lovely wife I will be needing her services again later this month.

03/16/2008 10:29 PM by Sam Miller (RE/MAX Stars Realty)

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Real Estate Agent: Dave Macklin (RE/MAX Allegiance)
Dave Macklin
Virginia Beach, VA
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RE/MAX Allegiance

Office Phone: (757) 490-7300 Ext.: 302
Cell Phone: (757) 237-2751
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RE/MAX Allegiance Realtor specializing Virginia Beach real estate, homes for sale and market trends.

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