May Home Sales Indicate Booming Virginia Market

Dated: 06/23/2017

Views: 8

May 2017 VA real estate sales

Residential real estate sales continue to illustrate steady strengthening. Though inventory constraints eased in May, limited supply persists and is applying pressure to both price and the speed of transactions. The average number of days on the market fell to a multi-year low (52 days) in May. Year-over-year, pace increased by 5.1 percent, from 11,787 transactions for the month in 2016 to 12,383 in 2017. Month-over-month, sales increased according to historical seasonal trends, rising 18 percent from April (10,496). Last year’s sales from April to May rose by 15.5 percent. Typically, pace rises each month from the beginning of the calendar year through the summer peak.

May 2017 volume (the sum of all transactions) exceeded $4.359 billion, rising 10.1 percent from last May’s volume ($3.961 billion). Year-to-date, residential sales volume  exceeds $15.252 billion, an increase of 10.7 percent from the same period in 2016.

Click here to view the full May 2017 Home Sales Report.


Article Courtesy Jenny Wortham SVP Communications and Public Relations Virginia Association of Realtors


Dan Lesher

After 15 years in sales, Dan Lesher began his career in real estate in 1997 with the goal of providing superior customer service, inspired by his own experience with lackluster real estate agents. Ove....

Latest Blog Posts

May Home Sales Indicate Booming Virginia Market

Residential real estate sales continue to illustrate steady strengthening. Though inventory constraints eased in May, limited supply persists and is applying pressure to both price and the speed of

Read More

The 46 Homes That Just Hit The Market In Stafford

 This home in Austin Ridge just hit the market has 5 bedrooms 3.5 baths on just over 4,200 sqft. The home buyer market is more competitive today than it has been in years, which is why it

Read More

Buying Vs Renting Which Is Better For You

According to a recent Trulia report, "buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%. " The report may have some people thinking about buying a home instead

Read More

Turning The Dream Into A Reality Requires Planning

                  Before we get to it, please ask the children to leave the room, I'm about to use an F word... FINANCING. 

Read More