Virginia Beach, VA (PRWEB) March 10, 2013
Virginia Beach and the Kellam High School District set new records in 2012 sales as reported by the local Multiple Listing Service (MLS) system. The Virginia Beach total real estate market showed great improvements in 2012 with inventories of homes and condos becoming more scarce.
The Kellam High School District continues to be a sought-out area for home and condo buyers for many reasons including great elementary and middle school(s), close proximity to military bases (Oceana/Dam Neck/Little Creek), Sandbridge Beach, and upscale custom home communities. Also, the new Kellam High School is slated to come online in 2014 featuring the latest “technological” and “Green” initiatives.
“The Virginia Beach and Kellam High School District real estate market continues to exceed expectations and attract buyers seeking superior amenities said Dennis Blackmore, REALTOR®/Agent Owner with Creed Realty Virginia Beach and a local “Kellam” area expert. “We are experiencing a demand in new construction and re-sales are seeing low days on the market. “Many price points in the Kellam High School District are so in demand that multiple contracts are being submitted”. It is clear that 2013 should be a banner year for new construction and re-sales in this area.
Virginia Beach residential sales increased over 14.4 percent in 2012 compared to a year earlier. During this same period New Construction real estate sales improved over 25% from a year earlier. Many Kellam High School District new construction “hot areas” include Heritage Park, Ashville Park, Back Bay at Lagomar, and Sherwood Lakes. Sandbridge Beach continues to be an attractive Kellam area for both year round residents and investors seeking resales.
“The Virginia Beach and Kellam High School market should continue to strengthen in 2013 as demand for this area remains steady, said Dennis Blackmore. The Virginia Beach and Kellam areas are popular with both the large military population stationed at Oceana and Dam Neck Naval Facilities.
Active listings at the end of December were 17 percent below what they were in December 2011. Currently, there are just over 6.0 months of supply of inventory signaling the transition from a buyers to sellers market.
Dennis Blackmore REALTOR®/Agent Owner with Creed Realty Virginia Beach is a Retired Naval Officer specializing in residential new construction, re-sales, short sales, and military relocation. Contact him here.