ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Tuesday, June 18, 1996 TAG: 9606180100
SECTION: HOMES PAGE: D-2 EDITION: METRO
SOURCE: MAG POFF STAFF WRITER
The state's home sales figures for April jumped ahead of last year's numbers although much of western Virginia lagged behind, according to the home sales survey of the Virginia Association of Realtors.
For the state as a whole, 6,114 homes were reported under contract in April, an increase of 12.49 percent over the 5,435 reported for the same period last year.
Year-to-date numbers were also ahead of last year, with 21,431 homes placed under contract through April compared to 19,683 for the same period last year. That's an increase of 8.88 percent.
Closed sales were also ahead of last year, with 5,728 contracts closed, a 26.11 percent increase over last year's 4,542.
"The economic growth that Virginia has been experiencing appears to be carrying over into the home sales market," said Barbara M. Wolcott of Virginia Beach, president of the association.
The association anticipates a very good year for home sales because of expanding economic development, she said, and it is encouraging its members "to do what they can to support economic growth in their own communities."
In April, the average market time for home sales was 125 days, while the average price of a single-family home was $129,245, consistant with last year's average of $129,542.
Increases in pending home sales for the year were seen in 10 of the 24 areas reporting sales activity, including Charlottesville, the Dulles area, Greater Piedmont, Northern Virginia, Richmond, Roanoke, Staunton and Tidewater.
LENGTH: Short : 38 lines ILLUSTRATION: GRAPHIC: Chart by staff.by CNB