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Winter 2012 Market Update
Prices still affordable
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| Average Home Price | $150,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 10-15% |
| Average Time on Market | 0-30 days |
| Prices As % of Asking Price | More than 100% |
| Market Trend | Activity up from last year |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Multiple Offers? | Yes |
| Housing Inventory | Very tight |
| Greatest Activity | Move-up buyers |
| Reason to Buy/Sell | Demand exceeding supply |
| Nearest Metro Area | Newport News / Norfolk, VA |
| Housing Hot Spots | Area-wide |
| Average Sold Price | $150,000 - View Graph Trend |
Newport News Local News
Local Summary: Average home prices are far below the national average and are attracting more buyers than sellers, even though the market has experienced 10-15% appreciation in the past 12 months. Move-up buyers appear to be most active.
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
Contact Information
Teresa Cline Associate Bro Associate Bro
757-643-7967
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Mortgage Rates
– Feb 13th, 2012 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.61%
15 yr. jumbo rate: 3.97%
Home Values
StreetZip Code
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Request More Information Let me answer your questions! Ask Me!
Teresa Cline Associate Bro Associate Bro
Liz Moore and Associates Realtor
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 757-643-7967
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