Norfolk Homes Report for January 2008 versus January 2007.
This report shows homes (detached and attached) settled in
month of January 2007 and 2008 (comparison).
Norfolk homes settled for January 2008 decreased by 73 units
from the same time last year.
Norfolk homes average market time increased 42 days from 58 to 100 days reflecting a slowdown
in buying and larger homes inventory.
Norfolk continues to be a buyer's market for homes and
condos. New construction builders and sellers
of homes are offering closing cost assistance and other incentives.
Homes in good condition and priced properly are selling.
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January 2007
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January 2008
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Homes
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Median Homes Sales
Price
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Average Homes Sales
Price
|
Market Time
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Homes
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Median Homes Sales Price
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Average Homes Sales Price
|
Market Time
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Norfolk
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213
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$214,000
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$255,323
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58
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140
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$208,000
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$246,628
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100
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Percent Change in Homes Percent
Change Average
2007-2008 = 34.27% Sales Price 2007-2008
-3.41%
Norfolk homes
sales prices decreased -3.41%
over the same time last year.
Average homes market time in all of Southside (Norfolk,
Chesapeake, Portsmouth, Suffolk, Virginia Beach, Smithfield and Isle of Wight)
was 84 days compared to 65 days in 2007.
You
can view Virginia Beach homes and statistics here.
Homes in all of Southside reflected a negative 0.43 in
average sales price from 2007.
For
detailed information on Norfolk homes contact me.
See
what your REALTOR® can do for you.
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