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South Hampton Region’s home sales slip but prices rise

South Hampton Region’s home sales slip but prices rise, Home sales dipped slightly in South Hampton Roads last month, but the real estate market showed signs of modest improvement overall.

For October, 1,164 existing homes were sold in the southern part of the region, down 1.3 percent from 1,179 in the same month last year, according to the Real Estate Information Network, the region’s multiple listing service. Sales were flat from September.

The median price of existing homes increased to $200,000 last month, a 5.3 percent increase over $190,000 in October 2013, according to the Virginia Beach-based company.

Across Hampton Roads, residential active listings rose 8.7 percent year over year, and the average number of days a home stayed on the market dropped to 83 from 87 a year earlier.

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