Housing market shows upward trend

Housing sales are picking up in Henrico County, as they are across the greater Richmond real estate market, according to a Long & Foster market report.

Chesterfield, Henrico, Goochland and Hanover counties, in addition to the City of Richmond, experienced positive trends in home sales and median sale price compared to October of last year, while inventory continued to tighten throughout the entire Richmond region.

Goochland County led the region in the increase in number of homes sold, experiencing a 43 percent increase over the previous year. Compared to October 2011, Henrico County saw an increase of 16 percent in home sales. Median sale price increased throughout the region with a year-over-year increase of one percent in Henrico.

Active inventory decreased by more than 20 percent, on average, across the Richmond region. Richmond City saw the largest decline of inventory at 28 percent compared to last year, while Henrico County experienced the second largest decline at 24 percent.

Houses continued to sell quickly throughout the Richmond region in October. Days on Market (DOM) in Richmond City was 58 days while Henrico and Chesterfield counties saw an average DOM of 63 days and 65 days, respectively. According to the Long and Foster report (compiled from residential real estate transactions within specific geographic regions, not just Long & Foster sales), the remainder of the region saw homes sell within an average of four months.

“The Richmond housing market again followed an upward trend as historically low interest rates continued to boost consumer confidence in the real estate market in October," said Jeffrey S. Detwiler, president and chief operating officer of The Long & Foster Companies.

Detwiler added that while the Richmond housing market is experiencing healthy stabilization and growth, tightening inventory can be expected to continue to push home prices up.
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Eight’s enough? Crowded race for 56th District develops


Following the retirement of Delegate Peter Farrell [R-56th District], a number of candidates have thrown their hats into the ring to vie for the open seat in the Virginia General Assembly district, which contains a portion of Henrico’s Far West End.

Democratic challengers include Lizzie Basch and Melissa Dart, while Republican contenders include George Goodwin, Matt Pinsker, Graven Craig, Surya Dhakar, Jay Prendergrast and John McGuire. In addition to a section of Henrico, the district also includes portions of Goochland and Spotsylvania County, as well as all of Louisa County. > Read more.

On the trail to Awareness


Twenty-five teams, composed of some 350 participants, gathered at Dorey Park in Varina April 8 for the Walk Like MADD 5k, to benefit Mothers Against Drunk Driving Virginia. The event raised more than $35,000, with more funds expected to come in through May 7. > Read more.

Leadership Metro Richmond honors St. Joseph’s Villa CEO


Leadership Metro Richmond honored St. Joseph's Villa CEO Kathleen Burke Barrett, a 2003 graduate of LMR, with its 2017 Ukrop Community Vision Award during its annual spring luncheon April 6.

The award honors a LMR member who demonstrates a purposeful vision, a sense of what needs to be done, clear articulation with concern and respect for others with demonstrated action and risk-taking. > Read more.

Glen Allen H.S. takes second in statewide economics competition

Glen Allen H.S. was among six top schools in the state to place in the 2017 Governor’s Challenge in Economics and Personal Finance.

Taught by Patricia Adams, the Glen Allen H.S. team was runner-up in the Economics division, in which teams faced off in a Quiz Bowl. > Read more.

Glen Allen native serves aboard Navy’s most advanced submarine


A 2007 Deep Run High School graduate and Glen Allen, Virginia native is serving in the U.S. Navy as part of a crew working aboard one of the world’s most advanced ballistic missile submarines, USS Tennessee, Gold Crew.

Petty Officer 2nd Class Michael Uhl, a machinist’s mate, serves aboard the Kings Bay-based boat, one of 14 Ohio-class ballistic missile submarines.

As a machinist's mate, Uhl is responsible for operating and maintaining the auxiliary engineering equipment aboard the submarine. > Read more.

Henrico Business Bulletin Board

April 2017
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The Henrico Business Leaders will hold its monthly breakfast meeting on the second Monday of every month from 7 a.m. to 9 a.m. at The Westin Richmond. The speaker will be Mark Smith of Midas. Cost is $35 to $40. To register, visit http://www.henricobusinessleaders.com. Full text

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