Spring is Here
Last month we predicted an early spring for the real estate market, and with the local market numbers from February in hand, it looks like our prediction is coming true. According to data from REIN (Real Estate Information Network, our local MLS), the median sale price across Hampton Roads was $313,650 in February 2023. That is an increase of 3.5% from January 2023, and is 7.9% higher than it was a year ago in February of 2022.
The national news coverage of real estate makes it seem like the market is at a standstill but that just isn’t the case in Hampton Roads. We are still seeing multiple offers on many of the listed homes on the market and, while there are certainly fewer homes that are selling this year than last year, the median days on the market (how long it takes for a house to go under contract) was only 20 in February of 2023. Things are still moving fast.
The rental market continues to be very strong as well. We would even suggest that the local rental market is actually stronger than the sales market. Rents have increased faster and at a larger percentage than the home prices over the last three years.
Based on both local and national studies, now is the time to start talking to us if you want to move this summer. Don’t wait until summertime! August is actaully one of our slowest times of the year because most people want to be under contract during the late spring/early summer so they can close and move before the school year begins. Of course, every situation is different, so give us a call (757-726-7653 for Lee, 757-434-9084 for Harry) or reply back to this email, and we will be happy to talk through your individual situation. And don’t forget, we can also handle you property management needs!
CROSS REALTY Happenings
Cultivate Your Curb Appeal
Eventbrite – Mary Ellen Baur, REALTOR® presents Cultivate Your Curb Appeal – Saturday, April 1, 2023 at Johnson’s gardens, Suffolk, VA. Find event and ticket information.
What’s Happening in Suffolk
39th Annual Juried Photography Exhibit
Join the Suffolk Art Gallery as they host the 39th Annual Juried Photography Exhibit, the largest and oldest juried photography exhibit in Hampton Roads. The artwork of professional and amateur photographers will be on display March 4 through April 14, 2023, from 10am to 5pm, Tuesdays through Saturdays, and 1-5pm on Sundays.
Great Dismal Swamp Guided Nature Walk
“Swamped and Loving It!” Meet the Great Dismal Swamp National Wildlife Refuge in a new way-up close and personal! Enjoy a biologist-led nature walk as you learn about the flora, fauna, wildlife and history that abound in the 112,000-acre wilderness. Reservations are required and cancellations are expected no less than 48 hours prior to scheduled tour.
Historic Suffolk Narrated Bus Tour
See Suffolk through the eyes of years gone by! Suffolk’s rich heritage dates back to the early 17th century, when Captain John Smith first encountered the Nansemond Indians on the Nansemond River. Even now, you can trace Suffolk’s legacy through our historic homes and neighborhoods, churches and Virginia Civil War Trails.
Cedar Hill Cemetery Stroll
An official Virginia Civil War Trail site, Cedar Hill Cemetery has long been an attraction for history buffs and even walking groups. The Suffolk Division of Tourism offers a guided stroll through the pleasant 32-acre cemetery, rich in history and natural beauty.
Kayak Excursion of the Great Dismal Swamp’s Lake Drummond
Experience the unusual and breathtaking Lake Drummond, a 3,108-acre bowl-shaped lake located near the center of the Great Dismal Swamp. Guided kayak excursions are facilitated by a water adventures outfitter with years of experience. All equipment is included with registration fee. Sunscreen, insect repellent, and comfortable clothing recommended; you are encouraged to bring a snack and bottled water.
Legends of Main Street: A Suffolk Ghost Walk
A hair-raising encounter with the spirited side of Suffolk. Follow a costumed guide through the shadows of historic Main Street discovering stories, legends and “unexplained occurrences” by lantern light. Tales of unsolved mysteries and unresolved affairs abound throughout Suffolk’s historically hip Ghost Walk. Reservations required. $10 adults; $8 seniors (60+), military, and children 9-12.
Crazy for Patsy Cline
Award-winning actress/singer/songwriter Katie Deal soulfully embodies country icon Patsy Cline. Deal gained national acclaim for her superbly authentic Patsy, starring in numerous tours of A Closer Walk with Patsy Cline and Always… Patsy Cline. An accomplished country music artist, Deal received the Georgia Country Artist of the Year Award and is an honored member of the Atlanta Country Music Hall of Fame.
Great Dismal Swamp Safari
The Great Dismal Swamp is anything but dismal. The narrated Swamp Safari, one of Suffolk’s most popular attractions, fills up quickly. This four-hour tour is led by a biologist specializing is the unique habitat of the Great Dismal. Learn about the history, lore, vegetation and wildlife with this adventure that includes a brief walk to Lake Drummond
Victorian Suffolk: Dying To Be There, A Guided Discovery of Cedar Hill Cemetery
This 75-minute walking tour explores the hidden meanings buried in Suffolk’s Historic Cedar Hill Cemetery. The tour will feature Victorian-era symbolism, burial practices, funerary industries, and mourning rituals. This intriguing and educational excursion will highlight how the residents of Suffolk both lived and died in the 19th century.
Storytime at the Station
The popular “Storytime at the Station” series has returned to the Seaboard Station Railroad Museum! Ideal for children ages three to seven, this interactive program features a different transportation-themed book each month, which will be read aloud, followed by the opportunity to explore the museum (children must be accompanied by a parent or guardian).
Suffolk Earth and Arts Festival 2023
Keep Suffolk Beautiful and the Suffolk Art League have teamed up to host the 2023 Suffolk Earth & Arts Festival on Earth Day, Saturday, April 22, 2023, from 10 am until 4 pm, outdoors, at the Westminster Reformed Presbyterian Church located at 3488 Godwin Blvd in Suffolk.
SUFFOLK VA FARMERS’ MARKET
This “farm & food” pre-season series will feature homemade and homegrown products by farmers and artisan food producers in Southeastern Virginia and Northeastern North Carolina. Join us for the Winter Farmers’ Market on the 2nd and 4th Saturdays of each month, February through April, 10am to 1pm.