ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Sunday, February 4, 1996 TAG: 9602060005
SECTION: HOMES PAGE: D-2 EDITION: METRO
SOURCE: MAG POFF STAFF WRITER
The year-end figures for the state's home sales were only marginally behind last year's numbers, according to the monthly survey of the Virginia Association of Realtors.
Through December, 61,718 homes were reported under contract, a decrease of only 0.13 percent from last year's figure of 61,799.
Barbara M. Wolcott of Virginia Beach, president of the association, called 1995 "another good year" for home sales.
"Mortgage rates have been dropping regularly following the lead of other interest rates and the slow growth of the economy," Wolcott said. "We are anticipating the 30-year rate to bottom out this year. All things considered, 1996 should be another good year for home buyers and sellers."
Pending sales were up 15.01 percent in December, with 3,387 for the month compared to 2,945 for the same period last year. Closings for the month were almost identical to the 1994 figures with 4,934 sales closed as compared to 4,942 for the same period last year.
In 1995, the average market time for home sales was 99 days, while the average price of a single-family home was $116,802.
Increases in pending home sales for the year were seen in 11 of the 26 areas reporting sales activity, including Charlottesville, the Dulles area, Danville, Fredericksburg, Harrisonburg-Rockingham, Martinsville-Henry, Middle Peninsula, the Roanoke Valley, Southwest Virginia, Tidewater and Williamsburg.
LENGTH: Short : 36 lines ILLUSTRATION: GRAPHIC: Chart by staff: Regional home sales.by CNB