PORTSMOUTH, Va. (WAVY) — The number of houses for sale across Hampton Roads is up according to new data by the Real Estate Information Network (REIN).
The median sales price of homes sold in October was $330.000. That’s about $3,000 less than the prices for homes in September.
While the prices of homes sold across the region is down slightly from September, they are up 6.5% compared to October of last year.
“The combination of mortgage rates and selling prices continues to challenge some would be buyers,” said Jon McAchran of AtCoastal Realty and President of REIN’s Board of Directors.
“However, homes are still selling, as shown by the median days on market, which is the same as it was last year at this time.”
Currently, houses spend about 19 days on the market, that’s two days longer than in September.
Residential new construction sold in the multiple listing service (MLS) during the month was 224, compared to 203 last month and 241 last year.