Hampton Roads Real Estate Market Snapshot
Hello Hampton Roads, Total # Homes sold 2007 6855 *Total Homes Currently on the Market 1/23/08 3324 # Times Inventory is turned 2.06 Absorption Rate in Months 5.82 DOM (Days on Market Based Upon Absorption Rate) 174.56 Total # Homes sold 2007 3309 Total Homes Currently on the Market on 1/23/08 1800 # Times Inventory is turned 1.84 Absorption Rate in Months 6.53 DOM (Days on Market Based Upon Absorption Rate) 195.82 Total # Homes sold 2007 2493 Total Homes Currently on the Market 1/23/08 1689 # Times Inventory is turned 1.47 Absorption Rate in Months 8.13 DOM (Days on Market Based Upon Absorption Rate) 243.89 Total # Homes sold 2007 1340 Total Homes Currently on the Market 1/23/08 710 # Times Inventory is turned 1.88 Absorption Rate in Months 6.36 DOM (Days on Market Based Upon Absorption Rate) 190.74 Total # Homes sold 2007 1438 Total Homes Currently on the Market 1/23/08 982 # Times Inventory is turned 1.46 Absorption Rate in Months 8.19 DOM (Days on Market Based Upon Absorption Rate) 245.84 Total # Homes sold 2007 1798 Total Homes Currently on the Market 1/23/08 749 # Times Inventory is turned 2.40 Absorption Rate in Months 5.00 DOM (Days on Market Based Upon Absorption Rate) 149.97 Total # Homes sold 2007 2164 Total Homes Currently on the Market on 1/23/08 931 # Times Inventory is turned 2.32 Absorption Rate in Months 5.16 DOM (Days on Market Based Upon Absorption Rate) 154.88 Note: So what do these numbers mean? This should give you an idea of where the market stands today. If you have any questions or would like to discuss your particular real estate needs, feel free to contact me. ___________________ For your real estate needs, visit my website at http://www.hamptonroadsrealestate.us/
Here’s a look at the current real estate market in all 7 Tidewater cities.
Look for this to be a regular quarterly contribution with the next snapshot update in April!
Hampton Roads Real Estate Market Snapshot
These numbers are based upon information from REIN MLXchange residential search. The total number of homes sold is for both detached and attached residential properties.
* Total homes currently on the market include those properties with the status of New, Active, Reduced, Increased, Extended and Back on Market.
Currently in Hampton Roads there is 5 to 8 months of inventory on the market. This time period is the absorption rate—meaning it would take between 5 and 8 months to sell the current inventory if no other homes were put on the market.
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