While sales nationwide continue to suffer, the majority of the Hampton Roads Real Estate market continues to see robust sales. Most market segements in Virginia Beach, Chesapeake, Suffolk, and Norfolk are seeing pricing remaining steady. Certain neighborhoods however are seeing small declines, yet others where supply remains tight are experiencing increases.
Homebuyers who choose properties in the right location are finding enhanced selection and can expect the value of thier purchae to remain steady over the short term and experience some increase over a 5 year time horizon.
Seller's are still enjoying reasonable market times of 30 to 90 days on properties that are well maintained and priced correctly. These properties are typically selling with very little discount from list price