July 2016 residential real estate sales have slowed from this point last year, though year-to-date performance remains strong. Year-over-year, the number of transactions fell by 4.7 percent, from 11,820 sales to 11,265. The value of transactions for July 2016 was $3.797 billion, 4 percent lower than in July 2015. Despite a moderate decline in pace and volume for July, year-to-date measures have outperformed 2015. Volume through the end of July 2016 exceeded $22.071 billion, a gain of 5.1 percent from last year’s accumulation of $20.992 billion.
Reflecting typical industry tempo, July sales declined from June; historically, the market climbs each month through June before tapering into the third quarter. Following the same seasonal trend, median price fell 4 percent month-over-month, from $289,500 in June to $278,000 in July. Median price did outperform last July by 1.1 percent, rising from $275,000. Average length of time on the market decreased 6.3 percent, from 64 days last July to 60 in July 2016. Rising median price and declining time on the market reflect limited inventory.
The Rookie of the Year nomination form will sent out in January and presented at the OSC Awards Banquet in March.
If you need cannot edit a PDF, and need me to send you the Word document for an application please call or email me.
Now’s the time to help recognize them for all that they do and help them shine. It’s time to nominate someone (or even yourself) for the 2016 VPAR Annual Awards.
These awards recognize outstanding leadership, accomplishments, and professionalism in our industry — recipients will be recognized at a ceremony during the upcoming VPAR Installation & Awards Banquet on Friday, November 18th at the Marriott at City Center. Tickets are $65 per person and include appetizers, wine, dinner, D.J. and dancing!
Help us recognize the best in our business by nominating your colleagues.
Please click below for the links to the applications or go to the Events section on our website http://www.vpar.org/
The Annual Awards program is conducted each year by the VPAR Awards Committee. If you have a question please call Chairman Dewey Hutchins of Liz Moore & Associates at 757-971-0557 or Jo McNamara Daly, VPAR Education Director & Association Events Planner
NAR was the only major trade association to participate in a White House event on commercial drone use. Rules on drones take effect on Aug. 29 and use of the devices in real estate is expected to pick up. Other top stories in The Voice for Real Estate for the week of Aug. 15 look at tightening bank underwriting for commercial real estate deals, the growth of women in commercial real estate, the top markets for renters to become homeowners, and a template real estate pros can include on their email signature line to remind consumers to verify recipients before they end valuable info by email.
VPAR is always looking for ways to help its members increase their bottom line.
We recently partnered with a company that has developed a product to help real estate professionals reduce their tax liability and put hundreds, even thousands, more commission dollars in their pockets.
70% of agents overpay their taxes each year and real estate professionals are 3 times more likely to be selected for a tax audit than W2 employees.
Our new partner, Deductr, is hosting a FREE informational webinar to give you a demonstration, important tax strategies, and little known tax deductions you can apply this year. The webinar is less than 30 minutes. You select the day and time most convenient. There is no obligation to attend.
We’ve negotiated a 50% reduction in the price of the product for any member who chooses to try it for their real estate business. They also offer a 100% satisfaction guarantee or a full refund.
Registration for VAR Fall Broker Day 2016 is now open. This comprehensive program was designed for brokers especially like you. If you are seeking to improve your management skills, earn broker CE credits, network with brokers from across the state, and most importantly – learn new ways to grow your business, then you won’t want to miss this event.
Date & Location Thursday, October 20, 2016, 9:00 AM to 4:00 PM Four Points by Sheraton Richmond, 9901 Midlothian Turnpike, Richmond, VA 23235
Steve Murray President and Owner,
Blake Hegeman Deputy General Counsel,
Virginia Association of REALTORS®
Industry Trends, Best Broker Practices & Brokerage Benchmarks