Virginia Home Sales, Prices Up in August From 2011

Virginia Gay Real EstateTotal home sales and median sales prices of homes that sold in Virginia in August were up compared to a year before, as the market began to move from the high-pitched summer months to the more sedate remainder of the year.

A total of 8,679 residential properties changed hands across the Old Dominion in August, according to figures reported by the Virginia Association of Realtors. That’s up 7 percent from the 8,125 transactions that occurred a year before.

“Low unemployment rates in Virginia, as well as record low interest rates, have helped Virginia’s residential housing market to continue to grow throughout 2012,” VAR officials said in a statement accompanying the results.

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