NRV real estate numbers up - WSLS 10 NBC in Roanoke/Lynchburg Va

NRV real estate numbers up

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New River Valley home sales are rising.

"Our kids are getting a little bit older and we wanted more space for them," said Korine Kolivras, who is currently unpacking for a recent move.

This is their third home in Blacksburg in nine years. The old house will be on the market soon.

"There's no way of knowing what's going to happen but it does seem like houses aren't on the market as long as they were a few years ago so we're feeling positive about it," said Kolivras.

"There's been a significant change in both buyer and seller interest in real estate here the last 18 months," said Jeremy Hart, a Nest Realty Agent.

In the NRV region, second quarter sales are the highest they've been since 2008. So far this year sales numbers are up more than 8-percent over last year with 781 homes sold.

Hart says in the first six months of the year, 21% of homes were put under contract less than 14 days after being put on the market.

"A lot of it has been pent-up buyer demand people who have been watching what's been happening in other sectors of the economy and now feeling good about making a decision to buy or sell here in the area," said Hart.

He says having Virginia Tech and Radford University helps. The area never saw an extreme slump.

"That's due in large part to we've had pretty conservative financing over the past several years we haven't seen a lot of risky loans," said Hart.

Average NRV sales prices are up too. Numbers provided by Hart are for the first and second quarters of each year.

2008 - $188,763

2009 - $176,456

2010 - $169,866

2011 - $170,399

2012 - $177,444

"We're cautiously optimistic that will see this continue for the foreseeable future," said Hart. "There are pockets of our real estate market that are still having some troubles but overall these numbers support that we are headed in a good direction."

Hart says financing condos is difficult and home sales will slow in the fall and winter months.

The New River Valley MSA includes the cities of Blacksburg and Christiansburg and the counties of Giles, Montgomery and Pulaski.

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