REALTORS® are the Resource

Third Quarter Housing Market Report Indicates Resumed Sales Growth and Healthy Demand

By on October 22, 2014

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 four percent gain in sales from the same period last year.

Growth in the Tri-Cities market rose a dramatic 37 percent from a year ago. Growth was fairly widespread this quarter, with 11 of the 16 jurisdictions having more sales than last year.  Colonial Heights led the region in sales growth, rising 77 percent from the same period last year. Hanover County led the Richmond Metro area in sales growth, rising eight percent from the third quarter of 2013.

Home prices remain on a steady upward trajectory for most of the region, reflecting increased buyer demand and continued low active inventory. The average sales price in the region rose two percent from a year ago, a gain of approximately $4,000. The region’s median sales price increased three percent from last year, to $214,869. The slowed pace of the sales price growth could be an indication of a stabilizing inventory of active listings.

Within the Richmond Metro Area, the City of Richmond led in median sales price growth, up six percent to $201,500, a gain of $11,500.  At $67,300, Petersburg led the Tri-Cities market in median sales price growth, up 27 percent, a gain of nearly $15,000.

The report showed positive signs for pending sales in the region. Pending sales this quarter were up five percent—the first quarter-over-quarter increase for the region since the end of 2013. Pending sales in the Tri-Cities market increased dramatically by 40 percent from the third quarter of last year. This is the sharpest increase in pending sales for the Tri-Cities area since before the housing market crash and recession. Petersburg led the Tri-Cities market and the Central Virginia region as a whole in pending sales growth, up 61 percent from the third quarter of 2013.

The number of active listings remained flat relative to last year.Business Graph v17

“We’re pleased to see strong continued momentum in growth for the Tri-Cities market,” said Mark Joyner, President of the Richmond Association of REALTORS® and Central Virginia Regional MLS.

“The continuation of sale price increases is a good indication of rising demand among home buyers in the region,” he added. “As we approach the holiday season, some sellers may postpone plans to place their home on the market. But with demand going strong and typically fewer properties competing in the next few months, those who list now could very well come out on top.”

App-Featured-Photo

New Home Search App Launched by the Central Virginia Regional MLS

By on June 19, 2013

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

prject-homes

Are You Getting a Cold Chill Waiting for those Winter Heating Bills?

By on October 17, 2014

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 Housing Interpreter Cover

Read & Share the Latest Edition of The Housing Interpreter – Digital Magazine

By on September 26, 2014

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

CRS

Central Virginia REALTORS® Help Clear the Clutter for a Cause

By on September 10, 2014

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

Local REALTOR® Scott McClaine Helps People Make Lifelong Changes

By on August 13, 2014

By Kate Loveluck Richmond Association of REALTORS® For most of us, home ownership is something we appreciate more in our adult lives, when we have the maturity and life experience necessary to fully grasp the concept.  For Scott McClaine, Owner

Governor McAuliffe Announces Television Pilot to Be Filmed in Central Virginia

By on August 4, 2014

By Bethany Cleveland Richmond Association of REALTORS® The governor recently announced that Central Virginia will be the location for the pilot of a new television series by Amazon Prime.  In his press release, Governor McAuliffe reminds us that “the Commonwealth

Second Quarter Housing Market Report: A Strong Foundation for Continued Stability and Moderate Growth

By on July 18, 2014

by Kate Loveluck Richmond Association of REALTORS® Richmond, Va. – According to a second quarter 2014 housing market report just released by the Central Virginia Regional MLS, sales and pending sales remained relatively flat in the Central Virginia Region as a

Law Addresses First-time Homebuyer Hurdle

By on July 5, 2014

A new law took effect which makes it easier for Virginians to save for their first homes. The Virginia Association of REALTORS®’ 2014 signature legislation, First-time Homebuyer Savings Plans HB331, helps Virginians prepare for homeownership, reminds them how important it is,

Local Realtor John Daylor Named Leukemia & Lymphoma Society’s Virginia Chapter “Man of the Year”

By on June 30, 2014

When local Realtor John Daylor’s friend Bill Torney nominated him for the Leukemia & Lymphoma Society’s “Man & Woman of the Year” competition, he knew he had his work cut out for him. The Man & Woman of the Year

Get the Latest Trends – The Housing Interpreter June 2014

By on June 13, 2014

The latest issue of The Housing Interpreter is now available.  This edition highlights how Richmond is cultivating the city through fresh produce, volunteer opportunities, better housing, home builds, bike paths, and more; and how these efforts have placed Richmond in