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: 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…
Market Snapshot: July 2022
The Richmond story continues to differ from the national narrative that we hear about in the news. The low inventory in our market means that sales are happening quickly and…
Market Snapshot: June 2022
While we are seeing slight adjustments to the market, we have not experienced any dramatic changes even after almost six months of increases in interest rates. Our local Richmond market…
Market Snapshot: May 2022
Because interest rates began to climb in February, the stats from May are really the first ones to show us if there has been an impact. The number of homes…
Market Snapshot: April 2022
The big news, of course, is that interest rates are on the rise. The takeaway is: Don’t Panic! We really needed something to calm the frantic market we’ve had for…