In October, the number of homes sold rose in most of the Hampton Roads region compared to the same month in 2013, according to The Long & Foster Market Minute reports. The Hampton Roads region real estate market, includes Chesapeake, Hampton, Newport News, Norfolk and Virginia Beach cities.

The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

Newport News City saw a 14 percent jump in the number of homes sold compared to October 2013, while Norfolk City experienced a 6 percent increase. In both Hampton City and Virginia Beach City, the number of homes sold rose by 2 percent. Chesapeake City experienced the only drop at 3 percent.

Median sale prices varied in the Hampton Roads region, jumping by 22 percent in Hampton City. The cities of Virginia Beach and Chesapeake experienced increases of 2 percent and 1 percent, respectively. Meanwhile, Nofolk City saw a 1 percent drop in median sale price, followed by Newport News City with a 2 percent decrease.

Compared to the same month last year, inventory remained low throughout the area, decreasing by 14 percent in Norfolk City. Hampton City saw an 8 percent drop, followed by Chesapeake City with a 7 percent decline. The cities of Newport News and Virginia Beach both saw 6 percent declines.

Many areas continued to see homes selling at a solid pace in October. In Virginia Beach City, the days on market (DOM) average was 68 days, while homes are selling in about 74 days on average in Chesapeake City. Other areas experienced DOM averages ranging from 76 to 107 days.

“October brought modest improvements to the Mid-Atlantic real estate market, including in the Hampton Roads region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “In many areas we saw increases in the number of homes being sold, as well as some positive trends in median sale prices. These are welcome signs for real estate in the region, and with continued improvements being made in the economy, we expect a smooth end to 2014.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.