March 2012 Highlights
Residential active listings decreased, 19.17% year-over-year, to 11,606 (March 2012) from 14,360(March 2011).
Under Contract (Pending) Residential Sales
Total residential under contract sales increased by 6.71% when compared to March 2011 (2,051 vs. 1,922).
Total property sales and total residential sales decreased when compared to March 2011 showing drops of -3.3%
and -3.61% respectively.
There is currently 7.57 monthsâ€™ inventory of residential homes on the market in the Hampton Roads area, an
increase from last month (7.46) and down 23.77% from March last year.
* Monthsâ€™ Supply Inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 Month's supply.
Stats provided by REIN MLS. April 9, 2012