Hampton Roads Residential Mdian Sales Prices Rose 10%+ Last Month


By Sydney Lake, Virginia Business

Hampton Roads saw residential median sales prices rise 10.04% during September, Real Estate Information Network Inc. (REIN) reported Monday. This is the largest annual increase in more than six years.

September 2020’s median sales price was $275,000, compared to $249,000 during the same period last year.

“Housing has been one of the strongest economic performance sectors in this COVID-19 era,” REIN President Barry Nachman said in a statement. “Homes placed under contract and closings (settled sales) continue to skyrocket with impressive year-over-year gains in almost every area of Hampton Roads. This has also had a strong effect on median sales prices, which continue to escalate year-over-year across our region.”


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