Virginia Housing Market Sees Continued Growth in 2017, including the Northern Neck and Middle Peninsula
The Virginia Association of Realtors (VAR) recently released their 2017 Year-End Home Sales Report, providing good insights into the real estate market throughout the Commonwealth, including the Northern Neck and Middle Peninsula regions. The report provides data showing consistent growth and strengthening in the market, particularly in more densely populated areas such as Central and Northern Virginia.
The regional breakdown of home sales volume provides a good visual of where the sales activity has picked up.
The Northern Neck and Middle Peninsula fall within different VAR regions, however both regions saw relatively modest growth in 2017, with 1.2% increase in 2017 sales volume over 2016 figures for the Northern Neck region and 5.2% increase in 2017 sales volume for the Middle Peninsula region, which includes the Tidewater area.
Full Report Available
The full report, Virginia Home Sales, Fourth Quarter and Year-End 2017, is available to the public from the Virginia Association of Realtors website. The report provides excellent detail regarding statewide trends that impact the real estate market, although more regional or even county-by-county breakdowns would make the report more useful to those of us interested in specific regions, such as the Northern Neck and Middle Peninsula.
We plan to dive into this report in more detail in the coming weeks and to add in some additional perspective from some of our most knowledgeable real estate and mortgage banker partners. Stay tuned!