Just the Facts
For the past several months we have been writing about what the local Hampton Roads real estate market did in 2021 and we made a few predictions about where we think the market might be heading. This month we are sticking to the facts and next month will circle back with some market predictions. If you want to reread past newsletters and our previous predictions, you can find them on our blog at CallCrossRealty.com/Blog.
The median sales price continues to increase based on year over year numbers (November 2021 compared to November 2020) and was $295,000 for November 2021, up 6.88% from November 2020. Year over year, both pending sales and closed sales are up 10.43% and 5.44% respectfully. There were only 3,484 homes for sale in November 2021. That number is 13% fewer than October 2021 and about 20% fewer than November 2020.
Next month we will be back with more predictions and address the best time to list a home for sale based on a local market study. Many people believe that summer is the best time to list but they are mistaken. Stay tuned for next month’s newsletter to find out more. If you are thinking about selling, go ahead and give us a call because the best time to list is sooner than you think. We love talking real estate, so don’t hesitate to reply to this email or give us a call (757-726-7653 for Lee, 757-434-9084 for Harry).
Thanks,
Lee and Harry
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