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Richmond will also attract active house buyers because it is quite suitable for those who travel by foot; many common errands can be run without having to resort to a vehicle. Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates. Four-bedroom apartment rents average $2,100 (a 2% increase from last year). Three-bedroom apartment rents average $1,899 (an 8% increase from last year).
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Climate's impact on Richmond housing
According to Zillow, a leading real estate marketplace, the typical value of homes in the Richmond metro is $337,047. Richmond metro home values have gone up 13.2% over the last twelve months. For condos and townhomes, the inventory would also dwindle in just one month, if no new listings are put on the market. From January through August, 9,329 single-family homes were sold in the Richmond metro area, a 13.4 percent decrease over last year's busy market. August sales posted a decline of 20.7% over last year for single-family homes.
The average sale price of a home in Richmond was $335K last month, up 15.2% since last year. The average sale price per square foot in Richmond is $202, up 6.9% since last year. Renovated in 2020 and Recently painted; and with some new windows. It comes w/a Living room & closet that flows into a dining area and kitchen with white cabinets & a small pantry. Back door leads you into the Deck, & Back yard with Unattached spacious Garage perfect for personal or car storage. On the hallway you will find the full bathroom, and a closet with the Water Heater and Stackable Washer & Dryer.
Richmond's Large Student Market For Rentals
However, being a capital city results makes it a good housing market to invest in. For example, government employment for better or for worse is relatively high in state capitals. That creates a large number of good-paying jobs, raising property values. Other types of housing that are prevalent in Richmond include large apartment complexes, duplexes, and a few row houses.
Norada Real Estate Investments does not predict the future US housing market. Buying a rental property needs research, planning, and budgeting. Always do research and consult a real estate investment counselor.
Richmond, VA Homes for Sale 308 real estate listings
The 1ST FLOOR PRIMARY SUITE has 2 WIC and private bath with ceramic tile shower and double vanity. Two additional bedrooms and full bath can be found on the second floor. (HOME IS READY NOW! Photos are of the actual home & visual tours are from builder's library & shown as an examples. Options will vary). Richmond real estate listings include condos, townhomes, and single family homes for sale.
The data relating to real estate on this website comes in part from the Broker Reciprocity/IDX Program of the New River Valley Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Long & Foster Real Estate, Inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing broker. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program of the Albemarle Area Association of Realtors, Multiple Listing Service.
Richmond Housing Market
Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. Roof was replaced in 2022, new windows and a new HVAC unit. The backyard is fenced in and ready for you to create a backyard oasis.
The new listings were down 29.6% and the total inventory dropped by 19.1% pushing the home prices up 10.1 percent to a median of $380,000. The difference between this August and last August's median home price is $35,000. Pending Sales (forward-looking indicator) decreased by 22.2 percent which shows that buyers are pulling back due to rising prices and high mortgage rates. The average homes sell for about 3% above list price and go pending in around 8 days.
There is a dearth of housing supply in the Richmond Metro. Over the last two years, available homes for sale have dropped by more than half. In August 2022, the Months Supply of Inventory for the Richmond Metro Area decreased by 10 percent for single-family homes, according to the Richmond Association of REALTORS®.
All listing data is refreshed regularly, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this web site may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited.All area school information is deemed reliable but is not guaranteed.
Recently sold homes in Richmond, VA had a median listing home price of $325,000. There were 4626 properties sold in Richmond, VA, which spent an average of 49 days on the market. Don't miss the rare opportunity to own something new in the Barton Height historic district! This impeccable new custom home has all premium features! The home features 3bdrms, 2.5 baths, free flowing living space in an OPEN FLOOR PLAN. The second floor has a luxurious master suite w/a glass shower and his/hers sinks and two more spacious bedrms.
Welcome to the Elderberry built by Biringer Builders, Richmond's Top Custom Builder. REIN's listings are based upon Data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website.
# Some services including Mortgage, Insurance and Title & Settlement are provided by the Long & Foster Family of Companies. Approximately 39% of Richmond homes are owned, compared to 51% rented, while 11% are vacant. ¹ Based on Rocket Mortgage data in comparison to public data records.
If you see a property you're interested in, contact a Richmond real estate agent to arrange a tour today! The Richmond VA real estate market is several times larger than this. If you include the suburbs around it, the Richmond housing market contains nearly one and a half million people. This makes the Richmond area the third-largest metropolitan area in the state of Virginia. Richmond has a mixture of owner-occupied and renter-occupied housing. Single-family detached homes are the single most common housing type in Richmond, accounting for 48.72% of the city's housing units.
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