The Spring Market is finally here!!! To prove it we have provided below a month to month analysis January through April 2009 of pending and sold statistics for Metro Richmond and surrounding counties. You will see below, houses priced at or above $500,000 are now SELLING! In latter 2008 and early 2009 ,this market was stagnant. Consumers are becoming more optimistic about purchasing real estate as prices come more in line with income and real-money savings become a reality through attractive interest rates.
Real estate if purchased correctly and with proper guidance isn't just a good investment; it's a great investment!
Sales Activity: Year-to-date 2009
In January, 539 houses in Metro Richmond pended or sold. In February, we saw a 17% increase and in March, a 30% increase with 633 and 825 homes selling. And April is on track for a similar increase with 984 houses under contract thus far. Price affordability and LOW interest rates are triggering this movement of inventory. Hopefully this upward trend of sales will continue and healthier markets lie ahead.
January
Metro Richmond 539
Homes $500K+ 25
February
Metro Richmond 633
Homes $500K+ 33
March
Metro Richmond 825
Homes $500K+ 53
April
Metro Richmond 984
Homes $500K+ 67
Keep in mind, an increase in sales activity does not necessarily equate to higher sales prices. The key to selling your house is pricing it at fair market value based on recently sold comparable properties. Feel free to call us for a realistic and honest analysis about the value of your home.
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