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Middle Peninsula home sales have yet to rebound; Gloucester up

Home sales on the Middle Peninsula have not yet shown the rebound that many localities on the Peninsula have seen, said Tim Rowe, president of the Chesapeake Bay and Rivers Association of Realtors.

Most property sales in this region rely on the association’s Multiple Listing Service, Rowe said April 17, and numbers for the first quarter of 2015 are on the rise in Gloucester and basically flat in Mathews.

The whole area has been slow to recover since the recession set in hard here in 2008, Rowe said, because of the sluggish economy and a tighter mortgage climate.

There are signs that the real estate market is finally turning the corner positively in Gloucester, Rowe said. But the Mathews real estate market is small and often skewed if there is a single very large property transaction.

In Gloucester, there were 92 listings in the first quarter 2015, with total selling price of $17.92 million. Listing prices ranged from $15,000 to $775,000, an MLS report indicated, while selling...

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