Many people ask me "how is the market?". Well, depending on the stats you look you will get a different picture. So what approach did I take? I looked at the number of homes that actually closed in November 2010. Then separated them by price range. Here is the link to the number of homes that closed for Chesapeake, Norfolk, Portsmouth, and Virginia Beach, Virginia in the month of November 2010:
This is probably the most solid number I chose to use instead of under contract or pending. The reason is closed means closed. These numbers were pulled in late December minimizing late entries into our MLS.
How do these numbers compare with your local scene around the country?......... What price range is the most sold in your area?
For those that are unfamiliar with the Hampton Roads area, we are one of the most military populated areas adding a bit of stabiity for both home sales and the local economy.
As my client's questions about the market change so will the graphs.