Richmond Real Estate News- March 2020

Richmond Real Estate News- March 2020

This past month we saw a slowing of the housing market in Central Virginia as concerns regarding COVID-19 began. Although real estate is considered an essential business most homebuyers have started to slow their speculative buying until the virus is better contained.

Real Estate Brokers use these measures to determine market trending; number of new listings per month, number of sold listings per month, average time on the market, and how many months of supply is currently available. Last months stats include:

City Of Richmond - Single Family Properties
242 New Listings
254 Pending Listings
37 Days on Market Average
276 Homes Available for Sale (1.1 months supply)

Henrico County - Single Family Properties
369 New Listings
257 Sold Listings
48 Days on Market Average
368 Homes Available for Sale (1.1 months supply)

Chesterfield County - Single Family Properties
585 New Listings
554 Sold Listings
44 Days on Market Average
812 Homes Available for Sale (1.6 months supply)

This is a sample of the data available but for more statistics please contact me and I'll provide you with that information.

Next month I'll be able to provide you with the impact of COVID-19 on real estate sales in Richmond and surrounding areas. We will also be looking closely at home prices and how those may be shifting.

If you're considering selling or buying a home it may be the right time. Please contact me and I'll be happy to help you.