|Click here to download the 2016 May Homes Sales report.||May 2016 Market Summary|
Virginia Residential Real Estate Market Continues Strong Growth with May Performance
According to the May 2016 Home Sales Report released by the Virginia Association of REALTORS® (VAR), the Virginia economy and housing market continue to benefit from strong growth in residential real estate sales. Both seasonal and annual indicators signify market strength, with the number of sales, value of transactions, median price, and average length of time on the market all improving over previous periods. Year-to-date, Virginia residential sales volume has exceeded $13.5 billion. May 2016 accounted for an aggregate value of more than $3.861 billion, 10 percent higher than the volume in the same month last year ($3.509 billion), and 18 percent higher than this April ($3.271 billion).
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