August Market Summary
August sales were 5.26% higher year-over-year, while median sales price remained fairly stable. Both number of sales and sales prices decreased from July to August. Sales and prices decrease seasonally beginning in July and continue to decrease through the beginning of the following year. Days on the market increased to 69 in August, but remained 5.24% lower than August 2014.
August sales volume was 3.87% higher year-over-year due to a combination of slightly higher prices and a 5.26% increase in sales. Since Virginia experienced a less pronounced seasonal decline last year, Virginia is likely to experience smaller year-over-year changes this fall, following the relatively high peak of sales in July. Click here to download the 2015 August Homes Sales report.
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