Virginia Real Estate Market Reaches Price Cuts Low Point

Price reductions have decreased in the Virginia market, reaching a low that hasn't been seen since last January. With the market heading toward a higher price point, there were 5,900 homes sold over the last 30 days. While the number of price reductions reached a new low, months of inventory is on a four-week downward trend, this week hitting four months.

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Demographic facts for Virginia:

  • The percentage of people who own their homes is 61.1%.
  • The one-year job growth rate in this area is 1.68%.
  • The students per teacher ratio in this area is 12.7:1. (15.3:1 = national average)

Data reported through 1/11/2017

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