Home Property, Rentals, Transactions
Virginia residential real estate market continues growth trend Year-over-year growth contributes to Virginia economy
The Virginia residential real estate market continued year-over-year improvement according to the First Quarter 2016 Home Sales Report released by the Virginia Association of REALTORS® (VAR). Indicating sustained long-term growth, both the number of sales and the value of transactions rose from this period last year, totaling 20,771 units and $6.34 billion, respectively. The value of transactions for the first quarter of 2016 was 2.2 percent higher than the first quarter of last year, and nearly 15 percent higher than the first quarter of 2014.
The Fredericksburg Area Association of REALTORS® (FAAR) announces endorsements for local elected offices in the City of Fredericksburg for the May 3, 2016 general election. “As a City resident and an active REALTOR® downtown, I am personally very interested in this year's election," stated FAAR Public Policy Committee Chairman Suzy Stone.
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant ALDI ground lease located at 5811 High Street in Portsmouth, VA for $3,280,000
At its regular meeting on February 23, 2016, the Alexandria City Council voted unanimously to rescind its vote on February 20 to approve a master plan amendment and deny a rezoning of the Ramsey Homes property at 699 N. Patrick St. The Alexandria Redevelopment and Housing Authority, which owns the property, proposed to replace the existing 15 public housing units in four two-story buildings with 53 public and affordable units in two three-story buildings
On Monday, the Virginia General Assembly overwhelmingly passed legislation creating a licensure system for professional home inspectors in the Commonwealth. Senate Bill 453, patroned by Sen. Bill Stanley, R-Moneta, passed the House of Delegates on a 100-0 vote
November residential real estate sales support the year’s strengthening market. Year-to-date sales through November 30, 2015, account for more than $32.02 billion in sales volume, according to the November 2015 Home Sales Report released by the Virginia Association of REALTORS® (VAR). Relative to the same year-to-date period for 2014, the value of sales transactions has increased by 11.7 percent. Both the number of units sold and the median sales price have risen steadily, contributing to the boost in year-over-year market performance
October residential real estate sales indicate sustained market improvement, with a rise of over five percent from the same time period last year. Higher volume coupled with a higher median sales price accounts for the bump in overall transactional value from $2.59 to $2.72 billion. According to the October 2015 Home Sales Report released by the Virginia Association of REALTORS® (VAR), sales each month this year have exceeded the sales for the corresponding months in 2014.
William A. “Bill” White Jr., president and owner of Joyner Fine Properties, has been elected to serve as 2016 president of the Virginia Association of REALTORS® (VAR). He succeeds Deborah A Baisden as the top volunteer elected leader of VAR, which is the largest trade association in the state of Virginia with more than 31,000 members. White will assume his new VAR post in November 2015.
The Virginia Association of REALTORS® (VAR) is encouraging Virginians to ready themselves for hurricane season as well as other disasters by making plans for how to stay safe and communicate during an emergency. Preparedness Month, observed nationwide in September, reminds Virginians to collect supplies as well as make and share a plan for the protection of their families, homes, and communities.
July residential real estate sales reflected a significant uptick from the same period last year, according to the July 2015 Home Sales Report released by the Virginia Association of REALTORS® (VAR). The 13 percent increase in sales over July 2014 continues an eight-year trend of year-over-year improvement. July sales are typically lower than the volume per month for June or any single month of the second quarter. In addition, the decrease of 8 percent from June indicates buoyancy from the 11 percent month-to-month dip averaged over the prior seven years for the same period.<