Hampton Roads housing: A statistical snapshot

Homes Family Hampton (Hampton, Virginia)Companies and Corporations Chesapeake (Chesapeake, Virginia)Hampton Roads

2005 home sales

Peninsula, Hampton Roads

Days on market: 31

Number of houses sold: 29,085

Average price: $250,304

Williamsburg

Days on market: 54

Number of houses sold: 2,328

Average price: $350,080

Richmond Metro

Number of houses sold: 16,442

Average price: $237,953

Northern Neck

Days on market: 179

Number of houses sold: 1,370

Average price: $235,198

Source: Virginia Association of Realtors 2005

Property tax rates

Locality / Tax rate (per $100 of assessed value)

Hampton $1.20

Newport News $1.24

Poquoson $1.06

Williamsburg $0.54

Gloucester County $0.95

Mathews County $0.51

Middlesex County $0.48

James City County $0.83

York County $0.82

Chesapeake $1.21

Norfolk $1.35

Portsmouth $1.45

Suffolk $1.06

Surry County $0.77

Virginia Beach $1.02

Isle of Wight County $0.68

Source: Virginia Economic Development Partnership, Guide To Local Taxes 2005-6

Leading builders

Builder / Closings

1. Terry/Peterson Residential / 230

2. Centex Homes / 220

3. Chesapeake Homes / 202

4. Dragas Associates / 178

5. Franciscus Company / 177

6. Baymark Construction / 150

7. Hearndon Construction / 141

8. Beco Construction / 137

9. (tie) Napolitano Enterprises / 112

U.S Home Construction / 112

10. (tie) McQ Builders / 105

JTM Development / 105

Builder / Permits

1. Chesapeake Homes / 351

2. Dragas Homes / 299

3. Centex Homes / 269

4. Terry/Peterson Residential / 196

5. Franciscus Company / 191

6. Futura Group / 159

7. U.S. Home Corporation / 148

8. Genesis Group / 147

9. Ainslie-Widener / 127

10. Beco Construction / 121

Source: ODU Center for Real Estate and Economic Development market survey 2006

Hampton Roads Housing Cost Trends

In January 2002, the average market time for home sales was 57 days, while the average price of a single-family home was $151,008.

In January 2003, the average market time for home sales was 45 days, while the average price of a single-family home was $157,388.

The average price of a single-family home in January 2004 was $181,160. The average time for homes on the market was 36 days.

The average price of a single-family home in January 2005 was $221,039. The average time for homes on the market was 33 days.

In January 2006, the average price of a single-family home on the Peninsula cost $250,304. The average time for homes on the market was 31 days.

Source: Virginia Association of Realtors