Norfolk, VA – Spring home sales were at a reported 7-year high nationally, and our local Norfolk VA market continues to remain steady as we move into the summer months. The latest numbers from Case-Shiller indicate that national average home prices are up by approximately 12% and are back to the prices in early 2004.
In our local Norfolk VA market, homes continue to go under contract faster than in previous years. Also, important to note, pending sales are making it to closing with less underwriting and appraisal challenges.
This is great news for sellers, but buyers are starting to feel the urgency that was experienced in the mid-2000’s, when homes had shorter market days and went under contract in record time.
“We continue to enjoy a strong real estate market in Norfolk, VA. There is a solid supply of inventory; however, we are seeing homes constantly going under contract, which means buyers have to move faster than in previous years,” says Shannon Allen, a Norfolk VA Realtor, since 2004.
For more information about Norfolk VA real estate, contact Shannon Allen, Realtor, at 757-647-3126 or shannon@shannonsellsoceanview.com
Judy Boone Realty | 809 E Ocean View Ave | Norfolk VA
Cell 757-647-3126 |Office 757-587-2800
Shannon Allen Realtor 