Industry News

Long & Foster boosts real estate sales

Closed transactions reach record $3.9 billion in April

The Long & Foster Cos. reported that total April sales for all of its companies totaled $5.4 billion, a 34 percent increase over April 2003. The companies' numbers include: Long & Foster Real Estate Inc., with sales of $3.9 billion on 11,870 properties sold, an increase of 31 percent over last year's record performance. The firm's three affiliated businesses were also up significantly in real estate sales values for April. Prosperity Mortgage Co., the company's mortgage affiliate, reported $437 million in volume of business. Strong numbers were also posted by company affiliates Mid-States Title, $867 million, and Long & Foster Insurance, $237 million.     All 10 of Long & Foster's regions throughout the company's seven-state market area and Washington, D.C., posted increases for April. They were: Northern Virginia/West Virginia (38 offices) up 34 percent to $1.3 billion; Hampton Roads region (11 offices) up 37 percent to $141 million; Richmond r...

Comments