VIRGINIA HOME SALES TRENDING UP FOR SPRING SELLING SEASON
RICHMOND, Va. – May 27, 2015 – (RealEstateRama) — The Virginia Association of REALTORS® (VAR) released its April 2015 Home Sales Report, which confirmed that the spring selling season is well underway. Home sales increased by 5.72 percent from March to April and will likely continue to increase through June, based on historic seasonal trends.
Other highlights from the report included:
Sales in April 2015 increased 4.94 percent over April 2014, reinforcing that Virginia’s 2015 monthly sales have remained well above 2014 sales numbers.
Median sales price for April 2015 was slightly higher (1.17 percent) than in April 2014, indicating that median sales prices should increase moderately and steadily through June and into the summer selling season.
For sale signs are not staying long on front yards, as days on the market decreased to 77 in April from 85 in March.
“It’s so exciting to see these steady signs of growth in the residential real estate market statewide in 2015,” said Deborah Baisden, president of the Virginia Association of REALTORS®. “Relatively stable prices and average days on the market indicate that overall, inventory is likely keeping up with demand—a very positive report!”
Baisden also noted that the 30-year mortgage rate has remained relatively stable throughout the first four months of 2015 and isn’t showing a consistent month-to-month increase or decrease. “We don’t anticipate that the mortgage interest rates will have a discernible impact on sales figures over the spring and summer selling season,” she added.
The Virginia Home Sales Report is published by the Virginia Association of REALTORS®, with analysis provided by the Virginia Center for Housing Research at Virginia Tech. The April Home Sales Report, with charts and graphs, is available on the organization’s website.
The Virginia Association of REALTORS® is the largest professional trade association in the state, representing approximately 30,000 REALTORS® engaged in the residential and commercial real estate business. VAR serves as an advocate for homeownership and homeowners and represents the interests of property owners in the Commonwealth of Virginia.
Note: The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
Contact: Christine Hodges
Chief of Marketing & Communications
Virginia Association of REALTORS®
Christine (at) VARealtor (dot) com
Office: (804) 525-2947
