Harry’s Monthly Real Estate Insight

I have attached two charts from our MLS statistics that give you the history of what has happened and where we are today. Take a look at the charts and they will tell you how we got into the Real Estate bubble, how the market dropped, when it started to recover, how sales dropped in the early part of the year and have rebounded. Our current supply is higher than last year at this time and our days on market are up. The medium list price is up and the medium sales price was up 4.6% in the Suffolk area.

What does all this mean? The market is better, but still needs to have more demand to get it going with higher prices and shorter sales time. We are going in the right direction and Cross Realty experienced another good month in sales and rental management. Looking to finish the spring months strong.

Congrats to Lee Cross for winning a Gold Award in this tough market and for being in the top 4% of the sales people in our MLS area. Grandfather, Harry Lee, Jr. would have been very proud! Keeping the tradition of top professional service and community involvement strong for another generation!

Graph 1Graph 2

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Specializing in properties in South Hampton Roads, Virginia.