Overall, Virginia is following the rest of the country with average days on market being 31-45. Here in Hampton Roads, it is taking a little longer overall to get a home under contract, but we continue to see 'average days on market' drop.
It comes down to location, location, location - While some neighborhoods are selling in under 30 days, here are the numbers for October 2017:
Chesapeake - 69 days, down from September
Norfolk - 86 days, down from September
Virginia Beach - 68 days, down from September
The National Association of REALTORS® surveyed their members for their Confidence Index.
The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.
Homes sold in less than 60 days in 44 out of 50 states, and Washington D.C.
Homes typically went under contract in 34 days in October!