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Va. home prices, sales up during October
Home prices in Virginia continued to surge during October due to high demand, low inventory and mortgage rates, according to a report released by Virginia Realtors on Tuesday. Northern Virginia, Central Virginia and Hampton Roads saw median home prices rise by 15% when compared with the same time last year. The median statewide home sales […]
Construction begins on $20M Norfolk apartment complex
Construction began late last week on a $20 million apartment complex at the site of the former American Cigar Co. in Norfolk, according to S.L. Nusbaum Realty Co. The 118-unit complex (including one-, two- and three-bedroom floor plans) will be located at 1140 and 1148 E. Princess Anne Road in Norfolk’s Bruce’s Park neighborhood. The […]
Active Hampton Roads home listings dropped nearly 40% in October
Compared to last year, active Hampton Roads home listings were down nearly 40% in October, Real Estate Information Network Inc. (REIN) reported Tuesday. Only 4,887 homes were on the market, compared to 8,089 last year marking the sixth consecutive month that inventory has fallen more than 32% year-over-year, according to REIN. “Extremely low inventory has […]
Former Boy Scouts campground in Middlesex County sells for $3.5M
A former Boy Scouts of America campground in Middlesex County has sold for $3.5 million, Glen Allen-based commercial real estate company Commonwealth Commercial Partners LLC announced Wednesday. The 306-acre Bayport Scout Camp located at 623 Bayport Road was sold by Phoenix Property Holdings LLC to MHC RV LLC in a transaction that closed on Oct. […]
Virginia Realtors turns 100
This month, Virginia Realtors will be 100 years old, marking its anniversary as a centenarian while the residential real estate market in Virginia continues to climb despite the pandemic. Founded on Oct. 22, 1920, Virginia Realtors has become one of the largest trade associations in the state, representing 35,000 members in the residential and commercial real […]
NoVa housing market continues upward trend in September
Unlike other industries struggling during the pandemic, residential real estate continues to stay strong. Northern Virginia Realtors saw a 58% increase, or nearly $1.5 billion, in the amount of real estate sold in September compared to the same time period last year, according to the Northern Virginia Association of Realtors (NVAR). The NVAR service area […]
RiverStone Ranch auction set for Oct. 28
The 979-acre RiverStone Ranch in Buchanan will go to auction on Oct. 28, rural real estate firm Hall and Hall announced last week. The Botetourt County estate, which has remained in private ownership for more than 200 years, includes tunnels, canals and stone walls from George Washington’s James River Kanawha Project. The property will go […]
Capital Square hires managing director, institutional fundraising head
Henrico County-based real estate investment company Capital Square announced Monday it has hired Bernard R. “Ben” Vonderhaar as managing director and head of institutional fundraising. Vonderhaar was most recently the managing director of fundraising at BlackGold Capital Management LP and has also served as managing director and head of the endowment and foundation, health care […]
NoVa home sales increase during August
Northern Virginia home sales increased during the month of August, according to a report released Wednesday from Chantilly-based Long & Foster, the largest privately owned real estate company in the nation. Alexandria saw the largest increase, at 32%, followed by Arlington and Loudoun counties, which both increased by 15%. Although inventory fell throughout most of […]
State rent, mortgage relief program expands to aid landlords
Gov. Ralph Northam announced Thursday the expansion of the state’s Rent and Mortgage Relief Program (RMRP) to include financial assistance for landlords. The RMRP was launched in late June with $50 million in federal CARES Act funding to assist households facing eviction or foreclosure due to COVID-19. Landlords can now apply to receive financial assistance […]
Hampton Roads sees record drop in available homes for sale
Hampton Roads housing inventory was down by nearly 47% in August, compared to August 2019, Real Estate Information Network Inc. (REIN) reported Tuesday. The region’s supply of inventory stood at just 1.97 months in August, which is the lowest recording since REIN began tracking this metric in September 2008. “Simply stated, if no new listings […]
NoVa housing market continues to recover
Northern Virginia saw an increase in the number of housing units sold in July, according to the Long & Foster Real Estate Market Minute Report released Friday. The report includes data from Alexandria and Arlington, Fairfax, Loudoun and Prince William counties. Alexandria saw the largest increase in units sold at 15%, and also saw the […]
