Get An Update About Soaring Real Estate Market In Virginia

By Author: Paul Love
Total Articles: 3
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Virginia was once famous for its rich history, but with the buzzing real estate market in the state, it seems that its real estate might become the most distinguishing attribute of Virginia. The local housing market in the major cities of Virginia is soaring. There are strong indications from various surveys conducted at the grass root levels that the housing market in the state is steadily on the recovery path. An overwhelming majority of the home owners said that the price of their houses has risen by more than 10% over the last year's price. A very few people reported decrease in their home price over the last year, while even fewer people told that there was no change in the value of their house.

The rise in the Home prices is mainly due to the better economic condition of the buyers, better price points and small rate of interests. While first time home buyers have difficult in arranging the cash for their dream job, the investors and repeat buyers are finding it relatively easy to buy property for quick gain from resale. This has resulted in a dramatic increase in the number of investors, but a very few ...
... are settlers. With the number of buyers and their paying capacity increasing, demand for good homes in Virginia is very high. This means that the seller can now sell his house at a much closed price to where he had marked it.

The soar in real estate is evident in all regions of Virginia, from Bristol to Loudon County and from Virginia Beach to Winchester. So no matter if you are searching for homes in Leesburg VA, or you are searching for
homes in Winchester VA, the prices of almost all residential properties have increased by at least 10% over the last year. Moreover, even if you have the amount ready, finding new home might still not be easy because the number of people interested to buy houses have surpassed the number houses being built.

A 21 % rise in the sales volume over the last year’s volume has been recorded in Virginia, which has driven the state’s real estate market past the $1 billion mark. Both, number of properties sold and the average selling price of each real estate property have risen. The rise in state’s real estate markets and abundance of potential buyers willing to pay a handsome amount for new property, are tempting more and more homeowners to put their houses out for sale.