Industry News

Long & Foster’s real estate sales strong

September sales totaled $4.3 billion

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The Long & Foster Cos. today reported that September sales for all of its companies totaled $4.3 billion, an increase of 27 percent over September 2003 but down from $5 billion recorded for August. The company said it was the best September in its 36-year history. Long & Foster sales are up 30 percent year-to-date-over last year's record levels, the company said. The numbers include: Long & Foster Real Estate with September sales of $3.3 billion, up 43 percent on 10,256 property transactions; Prosperity Mortgage, the firm's mortgage affiliate, which reported $311 million in volume of business, up 40 percent; Long & Foster Insurance, $243 million, up 7 percent. Numbers were off 27 percent for company-affiliate Mid-States Title. The firm's three affiliates together posted a year-to-date increase of 22 percent, totaling $13 million in sales volume equivalents. All of Long & Foster's nine regions throughout the firm's seven-state market area and the District of Colum...