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.
The threat of bad weather didn’t keep visitors away from Lewis Ginter Botanical Garden July 10 for the facility’s weekly Flowers After 5 event (which pairs music and food with a chance to stroll the garden) and its monthly Fidos After 5 (which allows dog owners to bring their pets with them to enjoy the evening). > Read more.
Thanks in part to a $10,000 gift from the Western Henrico Rotary Club, another bright pink Jeep modified to travel extremely rough terrain has been delivered to Midwives For Haiti so that more pregnant women in the quake-ravaged country will have access to prenatal care and a greater chance of surviving childbirth.
The funds were raised at the annual casino night held in February, club president Adam Cherry said. The Rotary Club also helped purchase the Virginia-based charity’s first pink jeep three years ago. > Read more.
Canoeing and kayaking enthusiasts soon will have a new access point to the Chickahominy River. VDOT, the James River Association and Henrico County Parks and Recreation are teaming up to establish a new site in Eastern Henrico.
The James River Association negotiated the deal with VDOT to procure official access to the area located just east of I-295 on North Airport Road in Sandston. The site includes a park-and-ride commuter lot bordering the Chickahominy River and has been an unofficial launch site used by paddlers for years. > Read more.
An eclectic array of events are taking place this weekend throughout the county. In the West End, we have the Richmond Wedding Expo, the Under the Stars Family Film Series and Henrico Theatre Company’s production of “Pump Boys and Dinettes.” In the eastern part of the county, we have a blood drive at the Eastern Henrico Recreation Center, Gallmeyer Farm’s annual Sweet Corn Festival and an origami workshop at Fairfield Library. For all our top picks this weekend, click here! > Read more.
Charlottesville's Bella’s Restaurant recently opened a location in Short Pump Village, at 11408 West Broad Street. The restaurant is owned by Valeria Biesnti, a native of Rome who arrived in the U.S. at age 21 and later became a U.S. citizen. With her restaurants, Bisenti has sought to create an ambiance that welcomes diners in a casual setting, like her favorites from her hometown. > Read more.
A Henrico native will appear on the third episode of the Travel Channel's new grilling competition series “American Grilled.”
The episode, filmed in Charlottesville, will premier July 16 at 9 p.m. and feature Glen Allen-native Rex Holmes, a patent lawyer who operates http://SavoryReviews.com a blo,g centered around tasty recipes and BBQ.
The show features hardcore grilling enthusiasts from across the country going head-to-head for a chance to compete for a $10,000 cash prize and bragging rights when they are crowned the ultimate “grill master.” > Read more.
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CalendarVCU Medical Center will present the seminar “Forgiving Ourselves and Others for Better Health” at 5:30 p.m. at Lewis Ginter Botanical Garden, 1800 Lakeside Ave. Learn why forgiveness is important… Full text