Click here to download the January 2017 Virginia Home Sales Report
Market Summary - January 2017 Virginia Home Sales Report
The beginning of 2017 has reflected notable year‐over‐year improvement. Pace, or the total number of transactions, rose from January 2016 by 6.5 percent (from 5,946 transactions to 6,335). Likewise, January volume grew year‐over‐year, from $1.800 billion in 2016 to $2.005 billion in 2017. The 11.4 percent increase in volume is attributed to both rising sales numbers and rising median price. Statewide, median price for January 2017 rose 3.2 percent from January 2016, from $247,000 to $255,000.
Typical of industry seasonality, January sales pace and volume fell significantly from December. The declines of 30 percent and 33 percent, respectively, were less steep than the December to January seasonal adjustments last year. By comparison, last January’s pace was 32 percent less than in December, and volume was 36.2 percent lower. Virginia’s historical trends indicate that sales climb every month from January to June as they reach summer’s market peak.
Click here to download the January 2017 Virginia Home Sales Report .