As in January, our February stats show just a couple fewer houses sold over the previous year and a few more days on the market. At this point we’re feeling the busy spring as usual, but it will be interesting to see March’s numbers vs March of last year. It could very well be that we’re seeing a slight settling down of the real estate fervor we’ve been experiencing in Richmond for the last several years. What we would hope for is a very gentle correction of the market, no steep dives, and that appears to be what we’re seeing. I know buyers I’m working with are tired of the bidding war scenarios and just not as willing to jump into the fray as folks were a couple of years ago. Prices are still trending slightly upwards so, all in all, RVA is still the solid market it’s always been.
Market Snapshot: January 2019