January 13, 2010
December ‘09 Metro Richmond Homes Sales with ‘08 & ‘07 Comparison
Is it the $8,000 Tax Credit or not? I’m afraid it is the credit, but time will tell. December ’09 numbers exceeded December ’08, but you’ve got to remember the environment a year ago. Financial crisis was rearing its ugly head and despite the era of “hope and change” being just around the corner, December ’08 was some pretty low hanging fruit.
December is always the month of bargains. Those bargain days typically spill over into January and February as the land sharks come out to scoop up some bargains. The land sharks look for properties with long days on market that are vacant. Call me, 804.301.7598, because I can point you to some great opportunities.
I am glad 2009 is on the books. Rough year. If anyone in Washington would listen, it’s the economy, stupid. If we would direct our attention to the economy, we’d be closer to putting this housing issue behind us; at least in Richmond. Take a look at the ’08 and ’07 comparisons. December ’09 might actually be what a “typically” year should look like. I feel like 9,600 unit sales is about right for the Richmond market. Tomorrow I’ll share the full year numbers with their ’08 and ’07 counterparts.
| December |
2009 |
2008 |
2007 |
|||||||||
| Price Range |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
# of Sales |
% of Ttl Sales |
||||||
| 0 – 99,999 |
76 |
12.62% |
49 |
|
9.07% |
|
28 |
|
3.94% |
|||
| 100,000 – 199,999 |
179 |
29.73% |
162 |
|
30.00% |
|
214 |
|
30.10% |
|||
| 200,000 – 299,999 |
174 |
28.90% |
164 |
|
30.37% |
|
217 |
|
30.52% |
|||
| 300,000 – 399,999 |
84 |
13.95% |
84 |
|
15.56% |
|
120 |
|
16.88% |
|||
| 400,000 – 499,999 |
52 |
8.64% |
36 |
|
6.67% |
|
62 |
|
8.72% |
|||
| 500,000 – 599,999 |
13 |
2.16% |
24 |
|
4.44% |
|
28 |
|
3.94% |
|||
| 600,000 – 699,999 |
8 |
1.33% |
7 |
|
1.30% |
|
12 |
|
1.69% |
|||
| 700,000 – 799,999 |
2 |
0.33% |
3 |
|
0.54% |
|
9 |
|
1.27% |
|||
| 800,000 – 899,999 |
5 |
0.83% |
5 |
|
0.93% |
|
6 |
|
0.84% |
|||
| 900,000 – 999,999 |
2 |
0.33% |
1 |
|
0.19% |
|
4 |
|
0.56% |
|||
| 1 Million plus |
7 |
1.16% |
5 |
|
0.93% |
|
11 |
|
1.55% |
|||
|
|
|
|
|
|
|
|||||||
| Total Sales/Pct. |
602 |
100.00% |
540 |
100.00% |
711 |
100.00% |