Make Smart Real Estate Decisions by Being Informed: Your Central Virginia Market Update



There are many great Central Virginia area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (434) 260-1885 for a FREE home buying or selling consultation to answer any of your real estate questions.

What is the Current Real Estate Market in Central Virgina Like?
Today I wanted to cover the current state of the market in Central Virginia. Before I go into that I would like to introduce the newest member of my team, Moose, my new puppy! As for the market, Charlottesville has 916 active listings with 332 that are contingent or pending.

I saw a statistic a few days ago that showed zip code 22902 having a 35% increase in value, which is phenomenal. The market is still pocketed; some areas are in favor of buyers and others in favor of sellers. This could be attributed to the fact that our economy showed little affect to what was going on with interest rates. Our area actually saw a 3% increase in property valuations!

As for Richmond, there are 1,644 active listings with 964 pending in the area. Richmond also has a pocketed market that is really price point driven. Interest rates are sitting at about 4.33% for a conventional loan and 3.91% for a 30 year fixed FHA loan. They are stable for now, but that is all depending on what the Fed plans to do.

Thanks and have a great day!

No comments :

Post a Comment