If you love Virginia so much but you live out of town then you might want to consider putting up your current home for sale and moving to Portsmouth, Virginia or a neighboring city in the great state of Virginia. Being close to the Virginia Sports Hall of Fame will allow you to access the great exhibits that are presented throughout the year whenever you'd want. How cool is that? If you can do it without having to partake in any refinancing program then we say you should just go for it.
Of course, you should know a little bit about the real estate market in the state of Virginia before you go out and include your house in the for sale listings. The current average value of a home in the state of Virginia is $221,800, which is pretty good. Nearby states such as Washington, that has an average home value of $347,700, and Pennsylvania, who has an average home value of $138,100, show you just how different real estate markets are. If you were to list your condo, would it be valued the same as an average home in Virginia? That's something you should think about before moving to Virginia and buying real estate there.
Based on the stats and figures we came across it's a great time to be a seller in Virginia as the average sales prices for homes always end up being higher than the average listing prices. The average listing price for a piece of real estate property in Virginia is $232,900 and the average sales price for a piece of real estate property in Virginia is $293,100. Quite the difference, don't you think? If you're going to move to Virginia you better make sure your current home sells for enough money that will allow you to pay for a home in Virginia. If not you might not be able to afford it.
If you break the above numbers down by single family homes and condos you'll find the same trend. The average condo listing in Virginia is $225,000 and the average condo sales price is $278,00. When it comes to single family homes, their average listing price is $234,900 and average sales price is $306,000. That's a pretty nice chunk of change for either type of home.
We hope you use the figures we've provided with you and sit down with your agent to determine if selling your home and moving to Virginia is the smart thing to do. Compare those numbers to the ones for your hometown and you will come away with a clear understanding of what you should do.
If this will be your first real estate purchase and your new starter home or condo, you should read out article titled "Perfect First Homes"