April 1, 2015

Richmond Real Estate Market Snapshot for February 2015

sold snapshot oldYeah, I am late publishing February’s data. Don’t know why I missed the mid-month date, but I did. February sales were booming. Up over 24% from February 2014. And while January 15 lagged January 14, the heathy number of sales for February brought 2015 ahead of 2014 by some 7.5 %. Standing inventory continues to be low. I continue to attribute this factor to homeowners remaining upside down in their mortgages. This makes it great for non-underwater sellers, who are being presented with multiple and bid up offers for their homes. This is very representative of go-go years beginning in 2004 and lastly through 2006, where more buyers were chasing not enough inventory; and we know how that ended up. I wish I could be more positive, but I am not seeing many positive signs.

Here’s the Market Snapshot for February 2015:

For the 15 single family homes sold in Fan & Museum District of the City of Richmond

(Fox and John B. Cary School Districts)

Average Sales Price in February $ 468,083

Median Sales Price …………..   $ 335,000

Sales Price/List Price Ratio …….. 99 %

Days on Market ………………… 35

Months of Inventory …………..  3.06

Average Size 3 bedrooms 2.5 baths of 2,182 sq ft

Average $ per square foot ……….$ 194.91


For the 14 homes sold in West End of the City of Richmond

(Zips 23221, 23226 and 23230)

Average Sales Price in February $ 545,000

Median Price …………………… $ 477,450

Sales Price/List Price Ratio ……. 97.2 %

Days on Market ………………… 55

Months of Inventory ………….. 3.0

Average Size 4 bedrooms, 2 ½ baths of 2,678 sq ft

Average $ per square foot……..   $ 197.64


For the 6 homes sold on the Northside of the City of Richmond

(Holton School District)

Average Sales Price in February $ 272,608

Median Price ……………….  $ 256,500

Sales Price/List Price Ratio ……. 97.5 %

Days on Market ………………… 33

Months of Inventory ………….  4.5

Average Size 3 bedrooms, 2 baths of 2,009 sq ft

Average $ per square foot……..   $ 136




 

For the 23 homes sold on the Southside of the City of Richmond

(Zip 23225)

Average Sales Price in February $ 244,704

Median Price ………………… $ 190,000

Sales Price/List Price Ratio ……. 98 %

Days on Market ………………… 74

Months of Inventory ………….  3.39

Average Size 3 bedrooms, 2 baths of 1,778 sq ft

Average $ per square foot……..   $ 125.56


For the 66 single family homes sold in West End of Henrico County

 (Zips 23226, 23229, 23230, 23233, 23238)

 Average Sales Price in February $ 315,962

 Median Sales Price …………….  $ 254,800

 Sales Price/List Price Ratio ……….  97.7 %

 Days on Market ……………….    62

 Months of Inventory ………….     2.77

Average Size 4 bedrooms 2.5 baths of 2,330 sq ft

Average $ per square foot ………. $ 133.57


For the 88 single family homes sold in Chesterfield

(Zips 23831, 23832, 23834, 23836, and 23838)

Average Sales Price for February $ 231,121

Median Sales Price ………….. $ 215,570

Sales Price/List Price Ratio ……..  99 %

Average Days on Market………… 83

Months of Inventory …………….. 5.67

Average Size 4 bedroom, 2.5 baths of 2,247 sq ft

Average $ per square foot ………..$ 104.14


For the 46 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for February $ 340,353

Median Sales Price…………… $ 306,500

Sales Price/List Price Ratio ………  98.2 %

Average Days on Market ………….  52

Months of Inventory ……………   4.5

Average Size 4 bedrooms, 2.5 baths of 2,612 sq ft

Average $ per square foot……… $ 130.03


For the 43 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for February $ 258,193

Median Price …………………  $ 240,000

Sales Price/List Price Ratio ……… 97.5 %

Average Days on Market ………….  75

Months of Inventory ……………  6.84

Average Size 4 bedrooms, 2.5 baths 2,290 sq ft

Average $ per square foot ……….. $ 116.03


For 69 single family homes sold in Midlothian

(Zips 23112, 23113, and 23114)

Average Sales Price for February $ 339,174

Median Price ………………… $ 289,950

Sales Price List Price Ratio …….    100.3 %

Average Days on Market ………… 70

Months of Inventory …………….  5.86

Average Size 4 bedrooms, 3.5 baths of 2,744 sq ft

Average $ per square foot……….. $ 119.78

March 16, 2015

Bank Owned Weekly for the Week of March 15, 2015

foreclosure 2

Are You Ready for Saint Paddy’s Day ? Seems it may of come early with Notre Dame winning the ACC Tournament. The Irish? With UVA out I assumed it would be Duke; maybe Carolina, but the Irish. You know what they say about the luck of the Irish. This could make for some miserable years in football, too.

Here are the links for Bank Owned Weekly for March 15th in Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

 Group 2 of Single Family Homes in West End Richmond.

 Group 1 of Townhouses and Condominiums for West End Richmond.

 Group 2 of Townhouses and Condominiums for West End Richmond.

 Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

March 1, 2015

Bank Owned Weekly for the Week of March 1, 2015

foreclosure 2

I am really sick of this weather !!! The only thing that makes me smile is how well the Cavaliers continue to play. 27-1!!! Now it’s Conference Tournaments, then on to the Big Dance. Hopefully, we will see some warmer weather. After all, it’s March 1st. Rabbit, rabbit.

Here are the links for Bank Owned Weekly for March 1st in Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

 Group 2 of Single Family Homes in West End Richmond.

 Group 1 of Townhouses and Condominiums for West End Richmond.

 Group 2 of Townhouses and Condominiums for West End Richmond.

 Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Yeah, call me foolish but I will be holding 8 N. Plum Street in the Fan open today from 2-4 p.m. This is a FORECLOSURE so be forewarned there is no heat, but this is modernized corner row house of over 2,200 square feet. It has a very open first floor and 3 HUGE bedrooms. Offered at $401,000.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

February 25, 2015

Bank Owned Weekly for the Week of February 22, 2015

foreclosure 2Watching the Great American Race? Well, I am. And when Daytona is over, I’m going to listen to the Cavaliers on the radio. Yeah, I know if I had cable t.v.; I could watch It on the tube, but I am cheap and refuse to have cable. Oh, and did you enjoy having a temperature of 50?

Here are the links for Bank Owned Weekly for February 22nd Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

 Group 2 of Single Family Homes in West End Richmond.

 Group 1 of Townhouses and Condominiums for West End Richmond.

 Group 2 of Townhouses and Condominiums for West End Richmond.

 Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

February 16, 2015

Bank Owned Weekly for the Week of Febraury 15, 2015

foreclosure 2     Moving slow due to the COLD Weather!!! Boy, just brutal out there this morning. Had a hard time getting out of bed. Getting excited about the NCAA’s. How about those Cavaliers. Won a close one yesterday. Honestly, think they are better than anytime in the Sampson’s years.

Here are the links for Bank Owned Weekly for February 15th Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

 Group 2 of Single Family Homes in West End Richmond.

 Group 1 of Townhouses and Condominiums for West End Richmond.

 Group 2 of Townhouses and Condominiums for West End Richmond.

 Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

February 10, 2015

Metro Richmond Real Estate Snapshot for January 2015

sold snapshot old    So how’s 2015 starting out for the Richmond Real Estate Market? Well, not so hot! Despite record low mortgage rates, the number of sales for January 2015 was down about 7.5 % versus January 2014; and if you remember, 2014 had a horrible first quarter. If there is anything redeeming in the 2015 numbers, it is the “pending” sales number which indicates February sales should be fairly strong and wipe out any deficiency between 2014 and 2015 numbers. Sales inventory continues to be very low which could be influencing overall sales, since the quality of inventory is not at its best, but I see little chance of improvement due to many owners still underwater on their existing mortgages. I wish I could be more positive, but I am not seeing many positive signs.

Here’s the Market Snapshot for January 2015:

For the 10 single family homes sold in Fan & Museum District of the City of Richmond

(Fox and John B. Cary School Districts)

Average Sales Price in January $ 267,233

Median Sales Price …………..   $ 228,713

Sales Price/List Price Ratio …….. 96.3 %

Days on Market ………………… 49

Months of Inventory …………..  4.06

Average Size 3 bedrooms 2.5 baths of 1,707 sq ft

Average $ per square foot ……….$ 153.16


For the 14 homes sold in West End of the City of Richmond

(Zips 23221, 23226 and 23230)

Average Sales Price in January $ 579,864

Median Price …………………… $ 385,050

Sales Price/List Price Ratio ……. 96.0 %

Days on Market ………………… 44

Months of Inventory ………….. 2.71

Average Size 4 bedrooms, 3 ½ baths of 2,690 sq ft

Average $ per square foot……..   $ 194.23


For the 7 homes sold on the Northside of the City of Richmond

(Holton School District)

Average Sales Price in January $ 273,114

Median Price ……………….  $ 275,000

Sales Price/List Price Ratio ……. 96.5 %

Days on Market ………………… 56

Months of Inventory ………….  3.43

Average Size 4 bedrooms, 2 ½ baths of 1,867 sq ft

Average $ per square foot……..   $ 151.10


For the 23 homes sold on the Southside of the City of Richmond

(Zip 23225)

Average Sales Price in January $ 173,704

Median Price ………………… $ 134,425

Sales Price/List Price Ratio ……. 97.4 %

Days on Market ………………… 58

Months of Inventory ………….  4.08

Average Size 3 bedrooms, 2 ½ baths of 1,696 sq ft

Average $ per square foot……..   $ 97.46


For the 47 single family homes sold in West End of Henrico County

(Zips 23226, 23229, 23230, 23233, 23238)

Average Sales Price in January $ 294,326

Median Sales Price …………….  $ 260,000

Sales Price/List Price Ratio ……….  97.2 %

Days on Market ……………….    42

Months of Inventory ………….     3.55

Average Size 4 bedrooms 2.5 baths of 2,256 sq ft

Average $ per square foot ………. $ 130.99


For the 72 single family homes sold in Chesterfield

(Zips 23831, 23832, 23834, 23836, and 23838)

Average Sales Price for January $ 195,872

Median Sales Price ………….. $ 189,500

Sales Price/List Price Ratio ……..  98 %

Average Days on Market………… 65

Months of Inventory …………….. 7.18

Average Size 4 bedroom, 2.5 baths of 2,137 sq ft

Average $ per square foot ………..$ 90.86


For the 40 single family homes sold in Glen Allen

(Zips 23059 and 23060)

Average Sales Price for January $ 339,806

Median Sales Price…………… $ 301,468

Sales Price/List Price Ratio ………  99 %

Average Days on Market ………….  56

Months of Inventory ……………   5.1

Average Size 4 bedrooms, 2.5 baths of 2,794 sq ft

Average $ per square foot……… $ 123.50


For the 38 single family homes sold in Mechanicsville

(Zips 23111 and 23116)

Average Sales Price for January $ 280,908

Median Price …………………  $ 243,350

Sales Price/List Price Ratio ……… 96.7 %

Average Days on Market ………….  58

Months of Inventory ……………  7.34

Average Size 4 bedrooms, 2.5 baths 2,337 sq ft

Average $ per square foot ……….. $ 119.37


For 78 single family homes sold in Midlothian

(Zips 23112, 23113, and 23114)

Average Sales Price for January $ 304,703

Median Price ………………… $ 253,500

Sales Price List Price Ratio …….    98.4 %

Average Days on Market ………… 68

Months of Inventory …………….  4.4

Average Size 4 bedrooms, 2.5 baths of 2,627 sq ft

Average $ per square foot……….. $ 115.11

February 9, 2015

Bank Owned Weekly for the Week of February 8, 2015

foreclosure 2  Sorry I’m late with this, but I had a busy weekend. So what are you doing now that there’s NO football? How about that Super Bowl? Actually, it was a pretty good game. Hope I can make it the 30 days until March Madness. And will the ‘Hoos keep it together? Time will tell.

Here are the links for Bank Owned Weekly for February 8th Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

 Group 2 of Single Family Homes in West End Richmond.

 Group 1 of Townhouses and Condominiums for West End Richmond.

 Group 2 of Townhouses and Condominiums for West End Richmond.

 Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

February 1, 2015

Bank Owned Weekly for the Week of February 1, 2015

foreclosure 2     Got Big Plans for the Super Bowl? Hard to believe I’ve been walking the Earth for all 49 Super Bowls. And how many were you really excited about or remember? If you’re like me, not many. As Russell Wilson would say “Go ‘Hawks”.

Here are the links for Bank Owned Weekly for February 1st Single Family Residences and Condos & Townhouses.

 Group 1 of Single Family Homes in West End Richmond.

 Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 2 of Townhouses and Condominiums for West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 2 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

January 28, 2015

Metro Richmond Real Estate Snapshot for December 2014

sold snapshot old     First, let me apologize for the tardiness of this report. 2015 didn’t start well for me. My son had some health issues which arose quickly and required certain procedures that needed to be handled in Chicago between 1/11 – 1/17 . While scheduling these, my daughter had a horrific automobile accident on 1/7 requiring several surgeries of her own and a hospitalization for about 10 days. The good news is my son is back to work and my daughter is at home healing from numerous broken bones. We were very fortunate, but I admit I was distracted for several weeks; therefore, the tardiness of this report.

2014 ended strongly with an increase in sales for December over November by some 18%. Considering this was December, this was remarkable. Now before you start singing Happy Days Are Here Again and high fiving everyone, we still ended 2014 with a decrease in sales of some 6 % compared to 2013. And you thought 2014 was some record year based on news reports! Yes, the retail market showed some upward trend in pricing over the year, but there was no consistency month to month. Inventory levels remained low throughout the year which caused increased competition among buyers for what little was for sale. We don’t have a market in equilibrium because many homeowners are still underwater in their mortgages. With many ARM’s resetting in 2015, I don’t see things improving in 2015. I hope we can have a market as good as 2014 was. If there is a bright spot in the market, it is mortgage rates remain low, but at some point they will have to increase. Don’t mean to be a downer, but that’s how I see it.

Here’s the Market Snapshot for December 2014:

For the 19 single family homes sold in
Fan & Museum District of the City of Richmond
(Fox and John B. Cary School Districts)
Average Sales Price in December $ 432,618
Median Sales Price …………..   $ 460,000
Sales Price/List Price Ratio …….. 97 %
Days on Market ………………… 50
Months of Inventory …………..  1.26
Average Size 4 bedrooms 2.5 baths of 2,361 sq ft
Average $ per square foot ……….$ 192.34

For the 27 homes sold in West End of the City of Richmond
(Zips 23221, 23226 and 23230)
Average Sales Price in December $ 459,592
Median Price …………………… $ 388,500
Sales Price/List Price Ratio ……. 97 %
Days on Market ………………… 43
Months of Inventory ………….. 1.29
Average Size 4 bedrooms, 3 ½ baths of 2,560 sq ft
Average $ per square foot……..   $ 176.67

For the 12 homes sold on the Northside of the City of Richmond
(Holton School District)
Average Sales Price in December $ 353,458
Median Price ……………….  $ 331,750
Sales Price/List Price Ratio ……. 96 %
Days on Market ………………… 87
Months of Inventory ………….  2.08
Average Size 4 bedrooms, 2 ½ baths of 2,494 sq ft
Average $ per square foot……..   $ 146.63

For the 41 homes sold on the Southside of the City of Richmond
(Zip 23225)
Average Sales Price in December $ 234,959
Median Price ……………….. $ 206,000
Sales Price/List Price Ratio ……. 96.7 %
Days on Market ………………… 60
Months of Inventory ………….  2.22
Average Size 3 bedrooms, 2 ½ baths of 1,846 sq ft
Average $ per square foot……..   $ 122.27

For the 70 single family homes sold in West End of Henrico County
(Zips 23226, 23229, 23230, 23233, 23238)
Average Sales Price in December $ 322,244
Median Sales Price …………….  $ 260,000
Sales Price/List Price Ratio ……….  97.6 %
Days on Market ……………….    56
Months of Inventory ………….     2.47

Average Size 4 bedrooms 2.5 baths of 2,403 sq ft
Average $ per square foot ………. $ 132.69

For the 103 single family homes sold in Chesterfield
(Zips 23831, 23832, 23834, 23836, and 23838)
Average Sales Price for December $ 241,511
Median Sales Price ………….. $ 212,475
Sales Price/List Price Ratio ……..  99.4 %
Average Days on Market………… 71
Months of Inventory …………….. 4.95
Average Size 4 bedroom, 2.5 baths of 2,450 sq ft
Average $ per square foot ………..$ 100.48

For the 67 single family homes sold in Glen Allen
(Zips 23059 and 23060)
Average Sales Price for December $ 349,019
Median Sales Price…………… $ 319,000
Sales Price/List Price Ratio ………  96 %
Average Days on Market ………….  43
Months of Inventory ……………   3.73

Average Size 4 bedrooms, 2.5 baths of 2,674 sq ft
Average $ per square foot……… $ 127.93

For the 76 single family homes sold in Mechanicsville
(Zips 23111 and 23116)
Average Sales Price for December $ 307,657
Median Price …………………  $ 237,688
Sales Price/List Price Ratio ……… 97.2 %
Average Days on Market ………….  59
Months of Inventory ……………  3.76
Average Size 4 bedrooms, 2.5 baths 2,556 sq ft
Average $ per square foot ……….. $ 120.91

For 102 single family homes sold in Midlothian
(Zips 23112, 23113, and 23114)
Average Sales Price for December $ 319,433
Median Price ………………… $ 265,000
Sales Price List Price Ratio …….    97.8 %
Average Days on Market ………… 68
Months of Inventory …………….  3.34

Average Size 4 bedrooms, 2.5 baths of 2,665 sq ft
Average $ per square foot……….. $ 116.89

 

January 26, 2015

Bank Owner Weekly for the Week of January 25, 2015

foreclosure 2    So I Guess I Owe You an Explanation. 2015 didn’t start well for me. My son needed some medical procedures and my daughter was involved in a pretty severe automobile accident. Fortunately, everyone is well now, but my daughter has to overcome some broken bones. I hope that gives me a pass for not publishing Bank Owned Weekly for a few weeks, but my mind was elsewhere.

So who do you like ‘Hawks or Pats? And is Deflategate really such a big deal? And can the mighty Cavaliers keep their # 2 ranking and their streak alive? After the Hokies today, the ‘Hoos play Duke and Carolina this week.

Here are the links for Bank Owned Weekly for January 25th Single Family Residences and Condos & Townhouses.

Group 1 of Single Family Homes in West End Richmond.

Group 2 of Single Family Homes in West End Richmond.

Group 1 of Townhouses and Condominiums for West End Richmond.

Group 2 of Townhouses and Condominiums for West End Richmond.

Group 1 of Single Family Homes in Glen Allen.

Group 2 of Single Family Homes in Glen Allen.

Group 1 of Townhouses and Condominiums for Glen Allen.

Group 1 of Single Family Homes in Western Chesterfield.

Group 2 of Single Family Homes in Western Chesterfield.

Group 1 of Townhouses and Condominiums for Western Chesterfield.

Group 2 of Townhouses and Condominiums for Western Chesterfield.

I’ve got a new listing in Five Forks Village in central Chesterfield. This is a 5 bedroom 3 bath Stylecraft Builders home of over 2,600 square feet. It is priced at $ 259,500 and the sellers are including $5,000 in closing cost assistance in the list price. Here’s a Visual Tour link for the property:

 http://www.visualtour.com/shownp.asp?T=3514949

If you want to see anything, feel free to call either Laura, 804.339.6607, or me, 804.301.7598.

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