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.
Citizen Staff Reports 12/16/2013
A decline in blood donations is typical during the winter months as people become busy with holiday activities and travel. Patient needs remain steady, however, making it important for people to visit a VBS donor site or mobile drive to give blood. > Read more.
In Varina, one of the most anticipated events of the season is approaching. The 19th Annual Big Toy Parade will return on Dec 14, offering a “homey,” small-town feel that helps elicit holiday spirit among participants and spectators alike.
The parade, which begins at 3 p.m., is sponsored by the Battlefield Ruritans and Henrico County Parks and Recreation and is held in conjunction with the James River Boat Parade. It is led by a grand marshal along Old Osborne Turnpike and ends at the Osborne Boat Landing, where hundreds of community members gather to await nightfall and the arrival of lighted boats, concluding a festive holiday celebration. > Read more.
Citizen Staff Reports 12/03/2013
Slated to begin play in the fall of 2014, Richmond United will field U13/14, U15/16 and U17/18 U.S. Soccer Development Academy teams. The teams will train and play home games at two of the top soccer specific complexes in the nation, Ukrop Park and Striker Park. > Read more.
It’s the final weekend before Christmas – but it doesn’t have to be a nightmare! Relax with half-a-million twinkling lights, enjoy Theatre IV on Tour’s production of “A Christmas Carol” or experience the 11th annual “Miracle of Christmas – Live at the Metro Richmond Zoo.” Another way to relax before the Big Day is with a good book. You can find a vast array of books, covering many genres, and meet authors at the Celebrate with a Book event on Saturday. For all our top picks this weekend, click here! > Read more.
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ClassifiedsPrime companion mausoleum space with open and closed included. Westhampton Memorial Park. Call Doug at 794-6916.