A First-Time Homebuyer Savings Plan allows any Virginian to set aside up to $50,000 toward the costs of closing on a new home. The earnings on those funds—interest and capital gains—are free from Virginia state taxes. Click here to download a PDF brochure
RVA: The Best City to Live, Work, + Play – Infographic by rarcommunications Check out our other infographic Why It Pays to Use a REALTOR®
What’s the Value of Using a REALTOR®? by rarcommunications * The above infographic is legal size. To save/print this document in legal size, CLICK HERE. For printing on standard letter size paper (8.5 x 11), CLICK HERE to download.
The Housing Interpreter is a quarterly, online publication of the Richmond Association of REALTORS® featuring trends in real estate and the Richmond area. Note: The publication takes a moment to load.
According to a 2014 annual and fourth quarter housing market report released today by the Central Virginia Regional MLS, regional home sales activity for the year grew 2.6 percent from 2013, fueled largely by job growth twice the long-term annual average and economic recovery to levels higher than before the recession.
Sales in the region increased during the fourth quarter by 6 percent over the fourth quarter of 2013, the sharpest gain of the year. Sales in the fourth quarter of 2014 were higher than those in the fourth quarter of 2013 for ten out of sixteen jurisdictions, pointing to a strengthened market.
Home prices in the region climbed for the third year in a row, reflecting strong buyer demand and continued low active inventory. The 2014 annual median sales price in the Central Virginia market was $208,825, up 5.5 percent from 2013, with a gain of over $10,000. Home sales prices increased steadily throughout the year, rising all four quarters over 2013.
Price points within the region’s housing market continue to shift higher. Two percent more homes sold for $300,000 or more in the region over the previous year and 4 percent fewer homes sold for under $200,000. The Richmond Metro area market had its sharpest price gain of the year in the fourth quarter, with the average sales price climbing to $253,346, a 9 percent jump from last year. The average sales price in the City of Richmond increased 25 percent from the same quarter last year, with a notable gain of nearly $50,000.
Pending sales in the fourth quarter of 2013 were up 3 percent from the same quarter in 2013.
The number of active listings continued to stabilize in 2014. There was minimal growth in the number of listings; but the sharp declines experienced over the past few years have not been reoccurring, indicating that sellers are becoming increasingly confident in the market. The Richmond Metro Area market has seen the most consistent active listing gains in the region, increasing 3 out of 4 quarters in 2014 relative to 2013. Chesterfield County had an increase in active listings throughout 2014.
“The sales performance of 2014 and current economic indices bode well for 2015,” said John S. Finn, Jr., President of the Richmond Association of REALTORS® and Central Virginia Regional MLS.
“Buyer demand should remain strong this year, and it is predicted that interest rates will remain low into 2015 before gradually rising, providing a strong incentive for homebuyers on the fence to move forward now,” he added. “The stabilization of inventory indicates that sellers have gained confidence, seeing home prices in the region increase for three years in a row. There are strong incentives for both buying and selling in the current climate, and we anticipate a productive year.”
Central Virginia Regional Multiple Listing Service is proud to announce the launch of the RVA Homes app. RVA Homes provides the most accurate, on-the-go access for REALTORS® and consumers to search homes, explore real-time listing details, view photos, conduct location-based
Richmond REALTOR® Faye Hager watched her dream and 7-year campaign spring to life this September, as local construction company J.W. Enochs broke ground on Richmond’s first hostel. “I felt like I got married. I was on a high,” Hager said.
After a multi-million dollar, year-long series of renovations, the museum that tells Richmond’s many stories has unveiled its fresh new spaces to the public. Along with the freshly renovated spaces will be fresh new exhibits and programming in the coming
At 201 W. Broad Street, an Italian renaissance revival style mid-rise building—which was built in 1916 for the J.B. Mosby and Co. Dry Goods Store—is in the midst of transformation into a stylish, modern boutique hotel, intended to immerse visitors
Below is a list of Frequently asked questions regarding Virginia’s new First Time Homebuyer Savings Plan. These FAQs were compiled by the Virginia Association of REALTORS®. What kinds of accounts can be FHSPs? Almost any account you have with a financial
Richmond, Va. – According to a third quarter 2014 housing market report just released by the Central Virginia Regional MLS, sales growth has resumed in the region after a flat second quarter this year. The region as a whole had a
Get a healthy and efficient home energy evaluation! The nonprofit organization project:HOMES , a participating contractor in Dominion Virginia Power’s energy conservation programs, is now offering a Home Energy Check-Up for only $25*! The Home Energy Check-Up gives single family
The latest edition of The Housing Interpreter is now available at WeAreTheR.com. Both The Housing Interpreter and WeAreTheR.com provide a wealth of information about buying and selling homes, the value of using a REALTOR®, and housing related news and stories from
Each year, the Central Virginia Certified Residential Specialist (CRS) Chapter, (a non-profit organization recognizing REALTORS® for their professional accomplishments in both experience and education), selects a local charity to get involved with and support. This year, they have teamed up