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.”