Well, as promised here it is! A comparison of 1st quarter sales for 2007, 2006, and 2005 for Central Virginia Multiple Listing Service. And guess what? It’s just like I thought it would be and have been soapboxing about forever.

 


    2007 2006 2005
Units Price Units Price Units Price
January 837 259,955 800 249,142 938 208,158
February 993 262,629 889 234,127 869 212,460
March 1,369 264,682 1,350 269,140 1,359 219,894
1st Qtr/Avg Px 3,199 262,422 3,039 250,803 3,166 213,504

2007 is off to a great start, which exceeds 2005. The above numbers apply to single family residences and do not include condominiums or townhouses. Unfortunately in 2005 and most of 2006, condominium and townhouse sales were not reported to the Virginia Association of Realtors, but frankly I do not believe those numbers would dramatically change the above figures. Yes, we have more inventory on the market and therefore due to more choices, the days to sell will be longer, but the end results remains the same with the home selling. So when when you hear doom and gloom national report or even state reports on the housing market, remember Brick’s mantra "Does Not Apply to the Richmond Real Estate Market!" Now call me and let’s get out there and look at some property, because the longer you wait the more expense it will be.