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Winter 2012 Market Update
Central Virginia defies the national economic forecasts in that our job market is good, unemployment down, and the real estate market prices are stabilized; the trend in foreclosures are up statewide but in our area, foreclosures comprise just 6 1/2% of the inventory. The greatest number of sales occurring are between $200,000 - $400,000. The slight price decline allows more people to buy. The pending and sold properties are 48% higher than the 1st quarter and 18% higher than the 2nd quarter of 2007.
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| Average Home Price | $275,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 0-5% |
| Average Time on Market | 60-90 days |
| Prices As % of Asking Price | 95-100% |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Multiple Offers? | No |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Job Growth |
| Nearest Metro Area | Richmond |
| Housing Hot Spots | The East End of Henrico offers a great area for reasonably priced new construction. The Tri-Cities area (around Fort Lee) has the greatest growth in activity. |
| Average Sold Price | $275,000 - View Graph Trend |
Richmond Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
Contact Information
Lisa Sigmon Holloway
804-539-5472
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Mortgage Rates
– Feb 13th, 2012 –
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30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.60%
15 yr. jumbo rate: 3.96%
Home Values
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Request More Information Let me answer your questions! Ask Me!
Lisa Sigmon Holloway
Envision Real Estate
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 804-539-5472
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