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

DATE: SUNDAY, February 14, 1993                   TAG: 9302120066
SECTION: CURRENT                    PAGE: NRV-19   EDITION: NEW RIVER VALLEY 
SOURCE: New River Valley bureau
DATELINE:                                 LENGTH: Short

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'92 GOOD YEAR FOR REAL ESTATE

Buying and selling of homes in the New River Valley during 1992 was significantly higher than the previous year, and selling prices also increased.

"When we look at the numbers for the last quarter of 1992, we also see evidence of continued strength," John T. Mentzer, said Virginia Tech real estate professor of marketing.

Mentzer compiles and interprets residential real estate figures for the New River Valley Association of Realtors.

Year-end figures showed sales of homes "stayed significantly above the same monthly figures for 1991, indicating a strong real estate market in the New River Valley for the entire calendar year," he said.

"This strength remained during December, with the number of homes closed and the average sales price considerablely higher than the previous year."

In December, 72 homes were sold, 11 more than in December 1991.

The average price was $97,033, compared with $71,507 a year before.

"All factors considered, 1992 was a very good year for the New River Valley real estate industry," Mentzer said.

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