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

DATE: SUNDAY, September 3, 1995                   TAG: 9509080024
SECTION: HOMES                    PAGE: D-1   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

JULY'S HOME SALES IN STATE UP 7.79% OVER '94

The report shows that sales for the month of July were up compared to the same period last year as 5,730 new and existing homes were placed under contract. The figure for the comparable month last year was 5,316. That represents an increase of 7.79 percent.

For the first seven months of the year, 37,692 single family homes have been placed under contract, compared to 39,415 for the same period in 1994, a decrease of 4.37 percent.

Increases in home sales were seen in 16 of 24 areas reporting, including the Blue Ridge area, Bristol, Charlottesville, Fredericksburg, the Roanoke Valley and Williamsburg.

Richmond sales were off 6 percent for the month, while Northern Virginia bounced back with a 19 percent increase for the month.

The average sales price was $117,122, up from last year's $103,891.

"Interest rates are remaining low, and the market continues to look good for both the buyer and seller," said Thomas N. Innes of Richmond, president of the Virginia Association of Realtors. "Home values are on the rise in Virginia, which unfortunately can't be said for all areas of the country."

Innes said that realtors "all over the state report that they are extremely busy keeping up with the demand."