Abingdon, Virginia: A Hidden Gem for Retirees

Are you looking to add value to your home with a few summer projects? Call your Realtor® to go over which items will net you the most money back!

According to the May 2023 Virginia Home Sales Report released by Virginia REALTORS®, there were 10,292 homes sold across the state last month. This is 2,756 fewer sales than May 2022, just over a 21% drop. This year’s March-through-May sales totals were down in Virginia, returning to 2015 levels. The decrease reflects hesitation from both buyers and sellers that is constraining the market. May’s sharpest drops in sales occurred in parts of Northern Virginia, Hampton Roads, and the Roanoke region. The statewide median sales price in May was $410,000, up 2.2% from a year ago, a gain of nearly $9,000. Prices have held firm even as the market has slowed, a reflection of the tight inventory conditions. “It remains a sellers’ market here in the commonwealth,” says Virginia REALTORS® 2023 President Katrina M. Smith. “While homes are taking about a week longer to sell, on average, compared to this time last year, most sellers are still getting more than asking price for their home.” In May, the average sold-to-list price ratio in Virginia was 101.4%, up from 100.9% last month. The inventory of active listings shrank in Virginia in May. There were 15,441 listings on the market statewide at the end of the month, which is 8.5% less than the same time last year. This is the second consecutive month that active listings have dipped after six months of growth. “In Virginia’s spring market, we’ve seen activity trending below average on both sides of the table; however, market conditions remain very competitive in many local markets around the state,” says Virginia REALTORS® Chief Economist Ryan Price. “Despite the current mortgage rate conditions, which have kept some would-be buyers on the sidelines, the already tight inventory conditions worsened by stagnant seller activity has kept the market competitive for buyers here in Virginia.”

Check out some of our local Independence Day Celebrations! We have included Wise County, Abingdon, Lebanon VA, Honaker VA, Johnson City TN and Kingsport TN.

When it comes to selling real estate, staging plays a crucial role in captivating potential buyers and accelerating the sales process. A well-staged home has the power to create an emotional connection, highlight the property's best features, and leave a lasting impression on prospective buyers. In this article, we will explore effective staging techniques that can help you achieve a quick sale for your real estate property.

Are you thinking about purchasing your first home? The process can be both exciting and overwhelming. However, finding the right location is a critical step that can make all the difference. Today, we’ll explore why Abingdon, Virginia, is an ideal place for first-time homebuyers.

When it comes to finding the perfect place to call home, the neighborhood you choose is just as important as the house itself. Abingdon, Virginia, is a charming town nestled in the Blue Ridge Mountains, and it boasts a variety of neighborhoods that cater to different lifestyles. In this article, we’ll take a look at the top 5 neighborhoods in Abingdon, Virginia, that you should consider if you’re planning a move.