ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Sunday, May 12, 1996 TAG: 9605130157
SECTION: HOMES PAGE: D1 EDITION: METRO
Although home sales were largely down in Western Virginia, sales figures for the state as a whole continued in March to run ahead of last year's numbers.
The home-sales survey of the Virginia Association of Realtors showed that 6,401 homes were reported under contract in March, an increase of 9.05 percent over the 5,870 reported for the same period last year.
Closed sales were also ahead of last year, with 4,998 contracts closed, an increase of 15.86 percent over 4,314 last year.
"We continue to see a steady demand for homes in the commonwealth," said Barbara M. Wolcott of Virginia Beach, president of the association. "And even though interest rates have shown some upward movement," she said, "our members are reporting an active market."
Wolcott predicted "another strong year" for home sales in the state.
In March, the average market time for home sales was 141 days.
The average price of a single-family home was $139,627, up from last year's average of $123,863.
Increases in pending home sales for the year were reported in 13 of the 24 areas reporting sales activity. That included Blue Ridge (Winchester and Front Royal), Charlottesville, the Dulles area, Greater Piedmont, Lynchburg, Massanutten, Northern Virginia and Tidewater.
LENGTH: Short : 33 lines ILLUSTRATION: GRAPHIC: chart - Regional Home Sales color STAFFby CNB