Wednesday, June 26, 2013
Sunday, October 28, 2012
New Construction Home Sales up in Suffolk
Home Sales up for New Construction in Suffolk!
Yes and its exciting to see the market changing here in Hampton Roads.
I searched the following criteria to see what the market conditions are doing in Suffolk area 61.
Here's the map:
Here you see that we have home prices increasing, properties pending or under contract. If you look to the far right, you will notice the market time:
So if your asking yourself, is it the right time to buy? Yes, based on the comparables, prices are increasing in some areas. The market is changing. It's a buyers and seller market here in Hampton Roads.
If you are interested in building Custom New Construction, build on your lot or we can locate one for you~!
For more info., please visit
OwnHomesInVA.com
Wednesday, March 11, 2009
Virginia Beach-Norfolk-Newport News, VA-NC MSA
| Virginia Beach-Norfolk-Newport News, VA-NC MSA | ||||||
| Metro Area Home Value Performance | ||||||
| Home Type | Current Zillow Home Value Index | Year Over Year Change | 5-Year Annualized Change | |||
| All Homes | $225,629 | -6.4% | 8.0% | |||
| Single Family | $234,809 | -6.1% | 7.8% | |||
| Condo/Coop | $176,348 | -7.5% | 11.1% | |||
| Bottom Tier | $161,854 | -3.7% | 11.5% | |||
| Middle Tier | $225,629 | -6.4% | 7.7% | |||
| Top Tier | $350,764 | -6.7% | 5.5% | |||
| Owner Equity ** | ||||||
| Purchase Year | Median Owner Equity | Median Owner Equity (Pct) | Median Down Payment (Pct) | Homes with Negative Equity (Pct) | ||
| 2008 | $5,556 | 2.8% | 2% | 41.9% | ||
| 2007 | $8,577 | 4.3% | 5% | 42.0% | ||
| 2006 | $21,065 | 10.5% | 10% | 30.6% | ||
| 2005 | $43,078 | 24.4% | 15% | 14.0% | ||
| 2004 | $77,353 | 52.6% | 10% | 0.9% | ||
| 2003 | $101,832 | 81.1% | 11% | 0.1% | ||
| Past 5 Years * | $46,562 | 25.8% | 10% | 22.9% | ||
| Market Trends | ||||||
| Quarter of Market Peak | 2007-Q2 | |||||
| Zillow Home Value Index at Peak | $248,481 | |||||
| Change from Peak (Pct) | -9.2% | |||||
| Last Time Market was at Current Level | 2005-Q4 | |||||
| Distress Signals *** | ||||||
| Time Period | Homes Losing Value (Pct) | Homes Sold For Loss (Pct) | ||||
| Past 12 Months | 83.7% | 12.2% | ||||
| Past 5 Years * | 1.1% | 3.2% | ||||
| * Jan 1, 2004 through the end of 2008-Q4 | ||||||
| ** Owner Equity Definitions | ||||||
| Median Owner Equity | The current median equity for all homes purchased for the given time period and has a mortgage | |||||
| Median Owner Equity (Pct) | The current median equity percentage for all homes purchased for the given time period and has a mortgage | |||||
| Median Down Payment (Pct) | The median down payment percentage for all homes purchased for the given time period | |||||
| Purchases With Negative Equity (Pct) | The current percentage of homes with negative equity for all homes purchased for the given time period and has a mortgage | |||||
| *** Distress Signals Definitions | ||||||
| Homes Losing Value (Pct) | The percentage of homes which had a Zestimate drop during the given time period | |||||
| Homes Sold For Loss (Pct) | The percentage of homes sold during the given time period for less than the previous purchase price | |||||
| Value tiers | Bottom Tier - Bottom third of homes based on Zestimate value. Less Than $193,741 | |||||
| Middle Tier - Middle third of homes based on Zestimate value. Between $193,741 and $288,196 | ||||||
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