Our theme for last month was, “Can our local real estate market have cake and eat it too?” but “Are we running out of cake to eat?” might be a better question to ask this month. The number of active listings dropped by 25% over the last two months based on year-over-year numbers (comparing February 2021 to February 2022) suggesting that there might be less “cake.” To help address that question, take a look at the chart below that compares year-over-year numbers (February 2021 to February 2022):

As you can see, active listings, pending sales, and settled sales are all down, but a great number of homes were sold last month. So the short answer is no, we aren’t out of cake, but due to the laws of supply and demand buyers are certainly paying more for their piece of cake. Houses are selling very fast and as spring rolls around more homes will be coming on the market. 

By putting our years of experience and innovative marketing and negotiating techniques to work, we have proven success helping both buyers and sellers navigate this market. Give us a call (757-726-7653 for Lee; 757-434-9084 for Harry) or reply back to this email to find out more. We love talking about real estate and are happy to have a no-obligation conversation.

What’s Happening in Suffolk

Suffolk Tourism, VA

Join the Suffolk Art Gallery as they host the 38th Annual Juried Photography Exhibit, the largest and oldest juried photography exhibit in Hampton Roads. The artwork of professional and amateur photographers will be on display March 5 through…

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What’s Happening

The Suffolk Visitor Center reopened to the public on Monday, March 15, 2021, at 9am. Our hours of operation will remain Monday-Saturday, 9am-5pm, and Sunday 1-5pm, through April 4. Hours will return to 9am-5pm daily beginning on April 5. The…

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Suffolk Tourism, VA

Join the Suffolk Literary Club and the Suffolk Public Library as they welcome Earl Swift, author of Chesapeake Requiem: A Year in the Watermen of Vanishing Tangier Island, on Tuesday, March 29, 2022, beginning at 5:30pm. This event is free and…

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Vinyl Radio

Vinyl Radio comes at you with a wash of vocal power and a righteous regard for the great rock-n-roll music of the 70s. These music city pros combine their considerable talents in an experience that captures the essence of an era when guitars,…

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Walk On The Wild Side

This exhibit depicts the beauty of wildlife throughout our region and the world. The exhibit features highly collectible decoys, wildlife, and waterfowl art, all while showcasing wildlife artists working in woodcarving, paints, sculpture,…

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Great Dismal Swamp Safari

The Great Dismal Swamp is anything but dismal. The narrated Swamp Safari, one of Suffolk’s most popular attractions, fills up quickly. This three-hour tour is led by a biologist specializing is the unique habitat of the Great Dismal. Learn about…

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Cedar Hill Cemetery Stroll

An official Virginia Civil War Trail site, Cedar Hill Cemetery has long been an attraction for history buffs and even walking groups. The Suffolk Division of Tourism offers a guided stroll through the pleasant 32-acre cemetery, rich in history…

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Suffolk Farmers’ Market

The Suffolk Farmers’ Market will kick off the 2022 season on Saturday, May 7, in the Suffolk Visitor Center Pavilion. The market is a hometown favorite, and features fresh locally grown fruits and vegetables, baked goods, meats and eggs, jams and …

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