VA: Hampton Roads Real Estate Stagnant

Peninsula-area home sales in April were flat, compared to April 2010, while the median sales price dipped nearly 9 percent to $178,000.

About 40 percent of last month’s sales across Hampton Roads were distressed sales, such as bank-owned homes and short sales, according to the Real Estate Information Network Inc.’s monthly report. And that’s an improvement. It was the lowest monthly percentage since December’s 35 percent.

The number of distressed sales currently on the market dropped from a high of 24.9 percent in December to 21.7 percent last month.

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