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Michelle Rosman

Richmond Realtor

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Market Snapshot: May 2021

It’s immediately evident that something BIG happened in March of 2020 when you look at the number of homes sold in May over the past three years. Since most home closings take place in 45-60 days, we see a large drop two months after the start of the shut-down caused by the pandemic. It didn’t last long, though. This year we’ve surpassed even pre-pandemic numbers for Homes Sold, with Median Sales Prices that continue to soar. There is some good news for buyers, however. In the past few weeks, we’re noticing a slight tick-down in the fervor of multiple offers and astronomically-over-ask prices. It seems some buyers are saying “I can’t compete” and declining to throw their hats in the ring. This bodes well for the entire RVA real estate scene, as returning to merely a strong market rather than an insane one brings more stability. Stability is good.


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Next Post: Market Snapshot: June 2021 »

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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