Housing sales surged in the Chesapeake Bay & Rivers housing market for the third quarter of 2024, according to a report released last week by the local realtor organization, which serves Gloucester, Mathews and Middlesex counties, the Buena Vista District of King & Queen County and the Town of West Point.
Three hundred and 24 homes sold regionwide in the third quarter, 47 more sales than a year ago, which is a 17 percent increase.
Home prices continue to climb in the region. The median sales price in the Chesapeake Bay & Rivers footprint in the third quarter was $356,609 climbing 5 percent from a year ago, a $17,609 jump.
The inventory of active listings expanded from last year in the region. There were 353 active listings on the market at the end of the third quarter in the Chesapeake Bay & Rivers region, 70 more listings than a year ago, a 25 percent influx.
Sales activity increased in all three months of the third quarter (July to September) compared to a year ago. M...