Richmond, VA Real Estate Market Update | February 2022
Wondering what's going on in today's Richmond, VA housing market? Check out the market update where we breakdown inflation, interest rates and the on-going inventory shortage.
Richmond, VA Housing Market Update | January 2022
It's a new year in real estate in Richmond, VA, but of course we're still going to reflect on how 2021 ended, and where we project we'll go in 2022. So how do you think 2021 ended, did we still have an inventory problem? Did interest rates go up? And what does it all mean for a new year in real estate? Watch this video to hear what we think!
Richmond, VA Real Estate Market Update | November 2021
Now that we’re full swing into the winter real estate market of 2021 in Richmond, VA, we’ve started to see a little of the normal real estate patterns for this time of year, along with the inventory shortage and multiple offer situations we’ve been seeing all year. Will this trend continue, and are we going to end 2021 as strongly as we started, or will we slow down altogether? Watch this video to hear our thoughts, and our advice regardless of if you’re a buyer or seller!
Richmond, VA Real Estate Market Update | October 2021
Now that we're entering the last quarter of Richmond, VA real estate in 2021, it's natural to think you may know what the winter market might entail - longer time on the market, fewer below asking price offers, and a return back to "the norm" for real estate. But given the year we've had so far, is that going to be the case this time around? Can we expect the normal real estate slow down we usually see in the winter? Watch this video to find out, and hear our advice whether you're a buyer or a seller!
Richmond, VA Housing Market Update | September 2021
Now that we're nearing the end of the summer, we're naturally seeing a little bit of a slow down in the housing market in Richmond, VA. But does this slow down mean we're no longer in a sellers' market? Does this mean the market is going to crash or the bubble is going to pop? Watch our monthly market update to learn the answers to these questions and hear our advice for both sellers and buyers!
Richmond, VA Housing Market Update | August 2021
Coming into the second half of the year, many people are wondering if the real estate market has slowed down, heated up even further, or staying exactly the same. We have the data and the stats to give you an answer to all your real estate market questions, along with what you can do as a buyer or a seller to succeed in this market. Watch this video to hear our advice and if we can answer more questions for you, drop a comment!
Richmond, VA Housing Market Update | July 2021
We're halfway through the year now, and the Richmond, VA market has been crazy - buyers are having a hard time getting homes under contract and it seems like everything has been flying off the market. What do you think is going to happen as we continue through the year? Watch this video to hear our thoughts!
Richmond, VA Real Estate Market Update | June 2021
2021 thus far has been a really tough time to be a buyer in the Richmond, VA real estate. Has it relented at all since our most recent update? What can we expect going into the second half of the year, especially now that COVID is finally coming to an end? Watch this video to hear our monthly market update and what could be coming next!
Richmond, VA Housing Market Update | May 2021
As we all know by now, it's a tough time to be a buyer in this market in Richmond, VA. While interest rates are still low, homes are selling the minute they're listed tons above asking and with waived contingencies, and there's no sign of an increase in inventory to beat out this demand. But will it continue this way, and even still, should you be competing while the market is this hot? We'll answer these questions and more in this market update!
Richmond, VA Housing Market Update | April 2021
The Richmond, VA market has been ON FIRE in 2021 so far, with no sign of stopping or even slowing down. March was no exception, with record breaking amounts of showings, crazy above asking price offers, and lots of contingency waiving. What did the numbers in March actually boil down to? Watch this video to find out!
Richmond, VA Real Estate Market Update | March 2021
As most of you have seen and many have experienced first hand in Richmond, VA, this market is CRAZY, and showing no sign of stopping. But statistically for the greater Richmond area, what does saying that really mean? Watch this video for our monthly market update to learn more!
Richmond, VA Real Estate Market Update | February 2021
We're a month into the new year in Richmond, VA, and homes are generally speaking still flying off the market as quickly as they're listed. What does this mean for the overall status of our real estate market, and for buyers and sellers going forward? Watch our market update for all the stats!
Richmond, VA Housing Market Update | January 2021
What better way to kick off 2021 in Richmond, VA than to tell you how great the ending of 2020 was?! For all of the stats on the market right now, we're the one stop shop. Check out this video to learn what our Central Virginia housing market is doing right now and let us know how we can tailor this information to meet your real estate goals.
Richmond Real Estate Market Update | December 2020
With this year (finally!) coming to a close, we're excited to bring you our second to last update of 2020. Usually the fourth quarter is the time that things start slowing down, but we're showing no signs of letting up this year! Check out this video to learn what our Central Virginia housing market is doing right now and let us know how we can tailor this information to meet your real estate goals.
Richmond, VA Housing Market Update | November 2020
Despite the conventional wisdom that the later months are the worst time of year to sell a house in Richmond, VA, it looks as though the real estate market will be finishing strong this time around! Check out this video to learn what our Central Virginia housing market is doing right now and let us know how we can tailor this information to meet your real estate goals.
Richmond, VA Housing Market Update | October 2020
With so many things up in the air right now between a tense political season and a global pandemic, one thing you don't have to question is the housing market, since we've got you covered on all the information you need to know about your home and its value. Check out this video to learn what our Central Virginia housing market is doing right now and let us know how we can tailor this information to meet your real estate goals.
Richmond, VA Housing Market Update | September 2020
Looking for the latest Richmond, VA housing market update? You've come to the right place! In this video, we take a look at some of the most important factors affecting the market right now. Whether you're thinking of buying or selling, this information is sure to be helpful.
Richmond, VA Housing Market Update | August 2020
Looking for the latest Richmond, VA housing market update? You've come to the right place! In this video, we take a look at some of the most important factors affecting the market right now. Whether you're thinking of buying or selling, this information is sure to be helpful.
Richmond, VA Housing Market Update | July 2020
Here is everything you need to know about the housing marketing in RVA! Watch now for national and local updates on what the housing marketing is doing right now.
Richmond, VA Real Estate Market Update | December 2021
We’ve finally gotten to the end of 2021, but are still in the middle of the winter real estate market in Richmond, VA. That said, nothing this year has been “normal” or like it has been in previous years, and the real estate market has been no exception. So how will we be ending this year in real estate? What’s the real estate market actually been like? Watch this video to hear all about it in our monthly market update!
Real Estate Market Update for Richmond VA | March 2022
The numbers don't lie! So let's go over them and what they mean for the Richmond real estate market. I am going all of the important details you need to know if you are considering buying or selling a home in the greater Richmond, VA area. If you need further guidance on navigating the real estate market, my consultations are always FREE.
Real Estate Market Update for Richmond, Virginia | April 2022
Real Estate Market Update for Richmond, Virginia | April 2022 Sometimes, it can be hard to understand what the details mean for you as a buyer or seller, so I'm explaining everything you need to know and the big picture of it all. There's a lot going on in the housing market in Richmond, Virginia. The BIGGEST topic you might be wondering about is the interest rates rising sharply, inventory, and home value. Lucky for you, I will cover all of this in the video. If you need further guidance on navigating
May 2022 Richmond, Virginia Housing Market Update | Real estate market update
Are we making a shift in this chaotic housing market? Sellers may be losing their leverage in negotiations as interest rates are rising and buyers are temporarily leaving the house hunt. Therefore, we are seeing less offers and less offers above the initial asking price. What does this mean for you as a buyer? I would encourage you to keep an eye out as competition is lessening. What does this mean for you as a seller? I would suggest starting planning & taking action sooner than later to maximize your
Is the market correcting? | June 2022 Housing Market in Richmond, Virginia
Is the boom over? Is the market crashing or correcting? Here’s what you need to know. The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way. Record-low mortgage rates and millennials reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren’t enough homes available to purchase thanks to many years of under-building and sellers who held off on listing their
July 2022 Housing Market Update | Richmond, Virginia.
July 2022 Housing Market Update | Richmond, Virginia. People are starting to throw the R-word around.... what does that mean for the housing market though? Many Americans are concerned about a possible recession in the next several months. And, the Federal Reserve’s recently announced policies to bring down inflation have validated those concerns. We made an in-depth video to better inform and support your real estate decisions during economic slowdowns.
August 2022 Housing Market Update | Richmond, Virginia Real Estate
August 2022 Housing Market Update | Richmond, Virginia Real Estate The market IS softening, but it is NOT crashing. Here are some quick July stats. The median home price: $380,000 The median days on the market: 6 days Months of supply inventory: 1 month Average asking price: 102.6% (2.6% over) In conclusion, we are not in a market crash. The market will not crash simply because there is NOT enough inventory. #richmondrealestate #richmondva #richmondvirginia
Richmond, Virginia Housing Market Update - September 2022
Let's talk about how the real estate market is doing .... First & foremost, 2022 has definitely been the year of mortgage rate volatility. 1. We saw rates jump up from the threes all the way up to the fives, kind of peaks at the sixes. The good news is that experts predict that we're gonna see more stabilization around interest rates. 2. Everybody's asking is real estate market crashing or prices coming down. What I've been telling people is that we are seeing where the market is softening. We're def
October 2022 Richmond, Virginia Housing Market Update
October 2022 Richmond, Virginia Housing Market Update Will mortgage rates continue to rise? Where are prices at in today's market where real estate prices expected ahead going into the new year? The first question everybody's been asking, will mortgage rates continue to rise? From August 18th through September the 29th, they pretty much rose every single week. Which had a lot of worried buyers asking when are they gonna stop and where are they gonna stop? The senior economist says we can expect to be in
November 2022 Housing Market Update | Richmond, Virginia Real Estate
Home Price Forecasts for 2023? Let's talk about the Home Price Forecasts for 2023! Home price forecasts have been revised for 2023. Three of the significant six forecasters are calling for minimal appreciation, two are calling for minimal depreciation, and Zelman & assoc are calling for 5.1% depreciation this year. Over the last 2 years, the median home price in Metro Richmond has increased by 13.7%. To bring the median home price back to $313,000, we need a decrease of 10%. Sellers: Thinking of making
November 2022 Housing Market Update | Richmond, Virginia Real Estate
Home Price Forecasts for 2023? Let's talk about the Home Price Forecasts for 2023! Home price forecasts have been revised for 2023. Three of the significant six forecasters are calling for minimal appreciation, two are calling for minimal depreciation, and Zelman & assoc are calling for 5.1% depreciation this year. Over the last 2 years, the median home price in Metro Richmond has increased by 13.7%. To bring the median home price back to $313,000, we need a decrease of 10%. Sellers: Thinking of making
December 2022 Housing Market Update | Richmond, Virginia Real Estate
We're gonna be covering mortgage rates and home sale predictions next year, and then also what everybody wants to know about, which is where our home prices are going next. 2022 will be remembered as the year of rising mortgage rates. We started off this year at roughly just over 3%. We peaked at a little over 7%. The good news is that Fannie Freddy, the Mortgage Bankers Association, and the National Association of Realtors all predict that we've seen the peak of mortgage rates and that they will gradual
January 2023 Richmond, Virginia Housing Market Update
January 2023 Richmond, Virginia Housing Market Update So the reality is the current headlines are either anecdotal or they're true, but they're not necessarily true in our local real estate market, which is operating much differently than the majority of markets in the United States right now. it may appear that we are trending downward, and I can understand that can be a little bit troubling. But if you look at the data for the last ten years, you'll notice that home prices dropping in the winter months
Richmond, Virginia Real Estate Update | February 2023 Housing Market
67% of Americans think that a housing crash is going to happen in the next three years. Will it happen in 2023, though? DM, text, email or call me ?? (804) 404-5566? ? ? [email protected] www.elliottreteam.com
Stay ahead of the real estate market in April 2023? | Richmond, Virginia Real Estate
Are you looking to stay ahead of the real estate market in April 2023? This video is a comprehensive update on the current state of affairs. We'll be diving into the latest trends, prices, and overall analysis for the coming months, giving you the insights you need to make informed decisions. Whether you're a seasoned investor, a first-time homebuyer, or just curious about the state of the market, this video is for you. Keep watching to stay on top of the latest developments in the April 2023 real e
May 2023 Housing Market Update
Hey Central Virginia! The Federal Reserve has just released some important news: a recession is predicted to hit by the end of 2023. But what does this mean for our local housing market? In this May 2023 Housing Market Update, Chris Elliott, team leader of The Elliott Real Estate Team, breaks down the potential impact of a recession on Central Virginia's housing market. In the opening, Chris shares the latest from the Federal Reserve's meeting minutes, highlighting the anticipated effects of bank turmoil l
May 2023 Housing Market Update | Richmond, Virginia Real Estate
Hey Central Virginia! The Federal Reserve has just released some important news: a recession is predicted to hit by the end of 2023. But what does this mean for our local housing market? In this May 2023 Housing Market Update, Chris Elliott, team leader of The Elliott Real Estate Team, breaks down the potential impact of a recession on Central Virginia's housing market. In the opening, Chris shares the latest from the Federal Reserve's meeting minutes, highlighting the anticipated effects of bank turmoil l
June 2023 Housing Market Update: Central Virginia Still on Fire
Welcome to the June 2023 Housing Market Update for Central Virginia! In this video, we dive deep into the current state of the local housing market, providing valuable insights and analysis. Mortgage rates have been a hot topic, and we discuss why they are higher than before but still not at historically high levels. Factors such as inflation, economic uncertainty, and capital market conditions contribute to this trend. However, experts predict that mortgage rates may eventually decrease later this year, p
June 2023 Housing Market Update | Richmond, Virginia Real Estate
Welcome to the June 2023 Housing Market Update for Central Virginia! In this video, we dive deep into the current state of the local housing market, providing valuable insights and analysis. Mortgage rates have been a hot topic, and we discuss why they are higher than before but still not at historically high levels. Factors such as inflation, economic uncertainty, and capital market conditions contribute to this trend. However, experts predict that mortgage rates may eventually decrease later this year, p
July 2023 Housing Market Update
In this video, we're diving deep into the current real estate market to discuss a critical issue affecting homebuyers and sellers nationwide: Low Housing Inventory Across the Nation. As the demand for homes continues to surge, the supply of available properties has dwindled, leading to a highly competitive housing market. Whether you're a potential buyer looking for your dream home or a seller seeking the best deal, understanding the implications of this low housing inventory is crucial. In this video, we
July 2023 Housing Market Update | Richmond, Virginia Real Estate
July 2023 Housing Market Update | Richmond, Virginia Real Estate In this video, we're diving deep into the current real estate market to discuss a critical issue affecting homebuyers and sellers nationwide: Low Housing Inventory Across the Nation. As the demand for homes continues to surge, the supply of available properties has dwindled, leading to a highly competitive housing market. Whether you're a potential buyer looking for your dream home or a seller seeking the best deal, understanding the implica
August 2023 Housing Market Update In Richmond Virginia
August 2023 Housing Market Update | Richmond, Virginia Real Estate Welcome to our comprehensive Richmond, Virginia August 2023 Housing Market Update! ???? In this video, we delve deep into the current state of the real estate market in Richmond, Virginia, providing you with valuable insights and trends that you need to know as a potential homebuyer, seller, or investor. ?? Our expert team has meticulously analyzed the latest data and statistics to bring you an accurate and up-to-date overview of the Richm
November 2023 Housing Market Update
Welcome to the November 2023 Housing Market Update for Richmond, Virginia! In this video, we delve into the pulse of our local real estate market, debunking common misconceptions and shedding light on crucial insights. Contrary to assumptions, our market remains vibrant! With the median listing price at $371,500, showcasing a 7% increase from last year, and homes selling in a mere 7 days on average, it's evident that Richmond's real estate scene is thriving. Despite a slight uptick in inventory supply, we
October 2023 Housing Market Update | Richmond, Virginia Real Estate
Welcome to our October update! In this video, we're going to break down and debunk four of the scariest headlines about the real estate market that you might be seeing. Mortgage Rates: Contrary to the belief that mortgage rates are historically high, we are actually right in the middle of the 50-year average for mortgage rates. As of October 12th, the par interest rate is 7.6%, very close to the 50-year average of 7.7%. Mortgage Rate Predictions: Fannie Mae, Wells Fargo, and the Mortgage Bankers Associati
November 2023 Housing Market Update | Richmond, Virginia Real Estate
Welcome to the November 2023 Housing Market Update for Richmond, Virginia! In this video, we delve into the pulse of our local real estate market, debunking common misconceptions and shedding light on crucial insights. Contrary to assumptions, our market remains vibrant! With the median listing price at $371,500, showcasing a 7% increase from last year, and homes selling in a mere 7 days on average, it's evident that Richmond's real estate scene is thriving. Despite a slight uptick in inventory supply, we
December 2023 Housing Market Update
April 2024 Housing Market Update