The report showed there were 83,748 home sales in the state during 2011. This was a 0.2 percent increase from 2010's figure of 83,578. The median home sales price for 2011 was $225,000, a 3.3 percent decline year-over-year. In addition, home sales for dwellings priced under $100,000 rose by 33 percent compared to 2010.

The Central Valley region experienced the strongest sales increases during 2011, according to the report. However, the Northern Virginia area witnessed the only sales drop in the state.

While the state witnessed a slight improvement in total, some areas experienced a sales boom to start off 2012. The Roanoke Valley had an 11 percent increase during January, according to The Roanoke Valley Association of Realtors. The report showed that more consumers may have taken out a mortgage due in part to the continued median home price drop. The area had a home price median of $125,000, which was down from $138,500 year-over-year.

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