Market Snapshots
Having your finger on the real estate market’s pulse is the first step in making any informed, confident decision. Lucky for you, that’s my job not yours, but I still recommend staying as informed as possible. There’s a ton of info out there and it’s not always easy to sort through it all.
I’ve got the solution! To keep you informed, I provide bite-sized market snapshots to give you a quick sense of where the market stands. You can find those here and get them straight to your inbox every month by subscribing below!
(Market statistics are reflective of the whole Central Virginia Regional MLS. Days on Market and Sales Price are median values.)
Market Snapshot: July 2023
As rates eek dangerously close to 7.5%, we’re still experiencing bidding wars in many cases, and still for the same reasons that have been driving the market for several years: Richmond…
Market Snapshot: June 2023
Market behavior is changing somewhat, although in ways that are not simple to sum up. Depending on location (of course!), level of finishes, and degree of well-done design, some homes are…
Market Snapshot: May 2023
Little inventory. Lots of buyers. More people seem to have cash on hand than makes any sense at all. My advice: keep plugging. It’s better to be in the real…
Market Snapshot: April 2023
The monthly number of homes sold has been lower for most months in 2023 than it has been in several years. As it has been so difficult for buyers to…
Market Snapshot: March 2023
It’s a strange spring, real estate-wise. The good news is that interest rates are slowly and steadily trending downward. The same-old news is that inventory is still extraordinarily low. There…
Market Snapshot: February 2023
Median prices took a dive to $325,000 in January of this year and already jumped back up to $350,000. We’re really not seeing prices come down in response to the…
Market Snapshot: January 2023
The numbers tell a pretty clear story here. The market is cooling off just a touch – exactly what we want to see. No crashes, no burst bubbles. The lack…
Market Snapshot: December 2022
Looking at the difference in the number of homes sold in 2022 versus 2021, you might assume the drop is due to the increase in interest rates. But it’s not.…
Market Snapshot: November 2022
The most telling detail in November 2022’s stats is that median home prices went up by about $4,000 between October and November, after declining only slightly since May in response to…
Market Snapshot: October 2022
At this moment, the market is feeling very much like a normal market before the days of monumental up-bidding, across-the-board contingency waiving, and 20-somethings finding $500k in someone’s attic. More…
Market Snapshot: September 2022
The interest rate hikes appear to be doing what they were meant to do. The market is cooling down, but it’s a minor cool-down and not concerning. We needed things…
Market Snapshot: August 2022
Six months into the current age of interest rate hikes, we are still seeing a very active market. Prices have decreased less than 3% since the high in June of…