February 2011 home sales numbers
We just got the housing-sales numbers for February, so until we can give a more comprehensive analysis, here's the gist:
Statewide sales, which hand been down in January, were almost identical in February (compared to 2010): 5,058 units in 2011 vs. 5,062 the year before.
Locally, though, things were different. Sales in Blacksburg and Northern Virginia were down in February after also being down last month. Meanwhile, sales were up in the Charlottesville, Richmond, and Virginia Beach-Norfolk-Newport News regions -- although the average selling price dropped in all three areas. (In NoVA both average and total sales prices were up slightly in February.)
Both Lynchburg and Roanoke, which had seen sales increases in January, were down in February; Roanoke's total sales dollars was about the same in February 2011 as a year before, but Lynchburg saw that volume drop almost 16% year to year. (Good news for Lynchburg: It was the only area of the state where average days on market was lower than in 2010 -- down almost a month, from 160 days to 132.)
Bottom line, if there is one? The markets remain mixed, volatile, and unpredictable.
Want some more details for Feb? Here's a quick chart of sales, comparing February 2011 with February 2010:
Virginia Beach-Norfolk-Newport News MSA