October 17th is the deadline to register to vote in Virginia for the upcoming November General Election. While more than 86 percent of Virginia REALTORS® are registered to vote, we can do better. So if you’re not registered to vote or you’ve moved and need to update your registration, the deadline is approaching.
Eligible residents can visit vote.virginia.gov and register online with the Virginia Department of Elections. On the site you can also check your registration status, find out information on absentee voting, and learn about what items will appear on your November 8th ballot.
Our goal is to have 100% of our members registered and at their polling place on Election Day. Register today so you can vote for candidates who support REALTOR® issues and policies that protect your business, community, and the rights of private property owners.
August 2016 residential real estate sales have strengthened markedly relative to August of last year and brought strength back to the third quarter following a contracted July. The number of August transactions grew year-over-year by 12.5 percent, from 10,204 sales to 11,482. Atypical of industry seasonality, August 2016 sales were slightly higher than July sales; the market typically peaks in June and begins to taper through the end of the year. Greater August sales may reflect that more inventory has come onto the market, expanding buying opportunities and boosting sales and volume. Following seasonal tendency, August median price declined slightly month-over-month and from the June peak, but was 1.7 percent higher than in the same month last year ($272,500 over $268,000 in 2015). Average length of time on the market was significantly lower, declining 13 percent (from 69 days last August to 60 in August 2016). The value of transactions for August 2016 was $3.793 billion, a significant 14.8 percent jump from August 2015. Volume through the end of August 2016 exceeded $25.941 billion, a gain of 6.8 percent from last year’s accumulation of $24.294 billion. Year-to-date measures continue to build significantly upon 2015 and prior year performance.
July 2016 residential real estate sales have slowed from this point last year, though year-to-date performance remains strong. Year-over-year, the number of transactions fell by 4.7 percent, from 11,820 sales to 11,265. The value of transactions for July 2016 was $3.797 billion, 4 percent lower than in July 2015. Despite a moderate decline in pace and volume for July, year-to-date measures have outperformed 2015. Volume through the end of July 2016 exceeded $22.071 billion, a gain of 5.1 percent from last year’s accumulation of $20.992 billion.