2020 Richmond Mid Year Market Report

2020 Richmond Mid Year Market Report

How’s the market?

We’ve made it to the halfway mark in 2020, already one of the most historic years of the past century. Through pandemic, recession, and civil unrest, it feels like the world could unfold. And yet, things continue to move forward in positive ways. Throughout the Richmond area, the real estate market is one of those areas that doesn’t seem to be willing to slow down.

We present you with our 2020 Richmond Mid Year Market Report.

2020 Richmond Mid Year Market Report

People need a place to live—it’s just that simple. The housing short-age of the past few years has set the stage for this year, and when fears could grip us, buyers continue to step up and shop. Across the region, homes have remained fewer and fewer days on market, reflecting this pent up demand. More and more homes sell after bidding wars, and the prices reflect that. Sellers’ reluctance to list homes continues to be the most significant barrier to a more active market.

If you are getting into the real estate market or looking to get out, feel free to ask for help. The signals are conflicted, and you will need the right strategy to secure the right house at the right price.

We’re here for you. Feel free to reach out directly to your Nest Broker.

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