So what’s hot and what’s not in the Richmond Real Estate Market? Actually, the pain is distributed fairly evenly. Most areas are experiencing sales decline in aggregate 34 % range for the composite area. The East End (Zones 42 and 40), old Mechanicsville (Zone 44), and the Southeast City (Zone 50) are experiencing some of the worst declines. Showing the most resilency are some surprisng areas like Central Henrico (Zone 32) and two of the “new suburbia” areas - Zone 54 in southwest Chesterfield and Zone 34 in northwest Henrico. The popularity for these areas can probably be attributable to the significant rehabiliation occuring in Zone 32 and the new construction available in Zone 54 and Zone 34.  Here’s what the various Real Estate Zones reveal in a June ’08 versus June ’07 and Year to Date ‘08 versus Year to Date ‘07.

Sales by Real Estate Zones for June 2008 vs 2007
2008 2007 % Change
Zone # of sales # of sales
10 56   75   -25.33%
20 30   53   -43.40%
22 104   161   -35.40%
24 20   35   -42.86%
30 32   43   -25.58%
32 33   52   -36.54%
34 94   137   -31.39%
36 44   67   -34.33%
40 19   53   -64.15%
42 22   57   -61.40%
44 45   94   -52.13%
50 16   33   -51.52%
52 82   123   -33.33%
54 118   133   -11.28%
60 41   57   -28.07%
62 124   169   -26.63%
64 37   61   -39.34%
66 22   38   -42.11%
939 1441 -34.84%
Sales by Real Estate Zones YTD 2008 vs 2007
2008 2007 % Change
Zone # of sales # of sales
10 259   400   -35.25%
20 138   219   -36.99%
22 412   650   -36.62%
24 98   145   -32.41%
30 136   208   -34.62%
32 176   230   -23.48%
34 411   575   -28.52%
36 186   282   -34.04%
40 139   251   -44.62%
42 143   293   -51.19%
44 220   369   -40.38%
50 109   201   -45.77%
52 396   606   -34.65%
54 545   760   -28.29%
60 218   317   -31.23%
62 499   736   -32.20%
64 178   263   -32.32%
66 131   194   -32.47%
4394 6699 -34.41%