HIGH-PRICED HOMES STARTLE ROANOKE-AREA REALTORS

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, March 3, 1993                   TAG: 9303030160
SECTION: BUSINESS                    PAGE: B6   EDITION: METRO 
SOURCE: Charlyne McWilliams
DATELINE:                                 LENGTH: Short
HIGH-PRICED HOMES STARTLE ROANOKE-AREA REALTORS
Home sales in the Roanoke Valley are continuing strong despite the economic storm that ripped through the industry in larger markets. But the most interesting development was a 5 percent increase in sales among homes costing $100, 00 to $200,000.
"I've very happy to see this," said Anne Lee Stevens, president of the Roanoke Valley Association of Realtors. "Finally, maybe, we're having a trickle-up effect."
Home sales in the valley in February totaled 301, up 5.4 percent from last February's 286, the association said.
The fact that 63 three-bedroom homes were sold in February compared to 31 two-bedroom homes also is an indication that people are moving to larger homes, said Stevens, an agent with Waldrop Realty in Salem. Home sales under $100,000 led the market mostly because of the surge of first-time buyers.
The statistics show 211 homes sold for less than $100,000, 74 were $100,000 to $200,000, 13 were $200,000 to $300,000 and three were more than $300,000. The median sales price in the valley was $79,530, the same as last year but up $3,000 from January. Houses stayed on the market for an average of 83 days.

by Archana Subramaniam by CNB