Real Estate

May brought mostly positive data for home sales in Henrico


The Henrico County real estate market showed mostly positive growth last month, according to Long and Foster Real Estate Inc. data.

The market experienced growth in the number of units sold, the median sale price, number of new listings, current contracts and active inventory, when compared with April totals. The number of days a home remained on the market dipped slightly from April, as did the months-of-supply rate (a term that indicates how long it would take to sell all listed homes).
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Housing market rebounding?

The housing market in Henrico and metro Richmond area appears to be headed in the only direction it could go -- up. That was the general consensus of attendees at the Richmond Association for Business Economics’ luncheon last month at the Federal Reserve Bank of Richmond, following a presentation by Richmond Association of Realtors CEO Laura Lafayette.

“What I took away, and what I think [everyone else is] taking away as well is the real estate market has really bottomed out in the Richmond region,” said RABE president Charles Kennington. “And going forward, we’re going to see more good news than bad news.”

The numbers showed that the units sold in Virginia declined every year from 2005-2010, with last year showing the first signs of improvement (slightly more than 11,000 in 2011 compared to about 10,600 in 2010).
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Henrico Business Bulletin Board

October 2017
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American Legion Post 233, 8088 Recreation Rd. in Varina, will present the Cruisin’ Car Show from 2 p.m. to 6 p.m. Classic cars, antiques, bikes and motorcycles are invited to take a ride on Route 5. There are no registration fees. Judging will be by popular vote. Hot dogs, hamburgers and soft drinks will be for sale to benefit veteran’s organizations. Brunswick Stew will be available for $8 a quart. For details, call 572-3124. Full text

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