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