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Rose & Womble president/CEO to retire in June 2021
Virginia Beach-based real estate company Rose & Womble Realty Co. announced last week that its president and CEO, Art Zachary, will retire in June 2021. Zachary started with the company in June 1970. It became Rose & Womble in June 1998. He will continue to serve as chairman of the board and work with the […]
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 […]
Williamsburg apartment complex sells for $46.5M
An apartment complex in Williamsburg sold for $46.5 million, commercial real estate firm Colliers International announced Wednesday. Located at 100 Whitworth Way, Elan-Williamsburg is a 198-unit apartment complex developed by Charleston, South Carolina-based real estate developer Greystar in 2018. It was sold to Glen Allen-based real estate investment group Capital Square 1031. Nine different floo[...]
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 […]
Armada Hoffler buys Richmond apartment complex for $25M
Virginia Beach-based Armada Hoffler Properties Inc. announced last week it has completed the $25 million acquisition of the Edison Apartments in Richmond. The 174-unit, 12-story property was originally built in 1919 as the headquarters for the Virginia Electric and Power Co. (now Dominion Energy Inc.) and was renovated and repurposed in 2014 as apartments. The […]
Hampton Roads residential median sales prices rose 10%+ last month
Hampton Roads saw residential median sales prices rise 10.04% during September, Real Estate Information Network Inc. (REIN) reported Monday. This is the largest annual increase in more than six years. September 2020’s median sales price was $275,000, compared to $249,000 during the same period last year. “Housing has been one of the strongest economic performance […]
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 […]
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 […]
