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Year-to-date home sales across Virginia mixed bag of ups, downs

Northern Virginia was essentially flat compared to same period in 2023

Year-to-date home sales across Virginia for the first four months of 2024 stood at 30,040, an increase of 1 percent from a year ago, according to new figures from the Virginia Realtors’ trade group.

Yet the year-over-year fluctuations were a mixed bag, with one of eight geographic areas showing a double-digit increase; three others showing more modest jumps; three showing declines; and the Northern Virginia region largely flat.

Northern Virginia led all comers with 9,425 transactions, down 0.2 percent from the January-through-April period in 2023. The two next largest areas also were down: Hampton Roads dropped 1.2 percent to 7,409 while central Virginia, which includes the Richmond area, was down 0.6 percent to 6,422. Southwest Virginia also was down, off 1.2 percent to 807 closings.

The best performance was turned in by the Shenandoah Valley, where sales were up 12.2 percent compared to a year before. Also on the up side were West-Central Virginia (7.9% to 2,581); Southside Virginia (2.3% to 860); and Eastern Virginia (9.3% to 695).

All eight reporting areas showed higher year-over-year median sales prices, with most jumps in the range of 6 to 9 percent. Southside Virginia was an outlier; its median sales price rose 12.8 percent.

Statewide, the median sales price for the first one-third of the year was up 6.2 percent to $392,839, according to Virginia Realtors’ data.