2019 is now more than halfway over and we are excited to release our 2019 Richmond Mid-Year Market Report. Understanding what’s going on in the market allows us to equip our clients to make confident, informed decisions. It also gives us an idea of what the future holds.
Overall, total sales in the Richmond area real estate market continued to increase as prices remained level and inventory levels increased.
QUICK TAKEAWAYS
- Total sales increased 9% year-over-year across the Richmond MSA in the first half of the year. Total sales increased from 8,072 in 2018 to 8,795 in 2019.
- The median sales price in the first half of 2019 was $258,970, staying relatively flat compared to $259,000 in 2018.
- In the Richmond MSA, average days on market increased by 3% to 34. The City of Richmond had the lowest average days on market within the Richmond MSA at 29 days.
Be sure to check out the full 2019 Richmond Mid-Year Market Report here for more info on how the market performed in the first half of the year.
Whether buying or selling, it is increasingly important in current market conditions to talk with your Nest Broker about how your home fits into the bigger picture. They will advise you and prepare you to make knowledgable decisions and help you achieve your real estate goals. Interested in what’s happening in other markets? To view all of our area market reports, click here.
Have questions? Contact your Nest Broker today.