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Michelle Rosman

Richmond Realtor

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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 of inventory continues to translate into high demand, which is a good place to be for sellers. And prices, along with competition, have notched down enough for some reluctant buyers to stick their toe back in the water. It’s worth noting that while the median price is up in January 2023 over 2022, that number maxed out at $363,000 in May of 2022, so prices are dropping slightly. Interest rates continue to wiggle around but we’re expecting them to settle into a reasonable range (no, not 3%!) later this year. Bottom line, especially if you’re renting, is that you’ll be far better off in the long run as a homeowner. Give me a call and we can crunch some numbers!


 

a graphic that displays current real estate market statistics compared to the past two years of data

Previous Post: « Market Snapshot: December 2022
Next Post: Market Snapshot: February 2023 seating on a cozy patio with a fire pit burning»

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spring flowers and a white picket fence with a home in the distance

Market Snapshot: March 2023

April 14, 2023

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Market Snapshot: February 2023

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Market Snapshot: December 2022

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Michelle Rosman works at One South Realty Group and is licensed in the Commonwealth of Virginia, #0225233120 Michelle Rosman agrees to provide equal professional service without regard to the race, religion, sex, handicap, familial status, national origin or sexual orientation of any perspective client, customer, or of the residents of any community. Any request from a home seller, landlord, or buyer to act in a discriminatory manner will not be fulfilled.

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One South Realty Group 2314 W Main Street, Richmond VA 23220