Monthly Stats for the Richmond, VA area

This is the Monthly stats for the Richmond, VA area provided by Scott Shaheen Regional Vice President/Richmond region of Long and Foster REALTORS. 

Our Richmond home market and economy is holding steady compared to the rest of the Virginia markets and the Nation. 

	Jan. 08	Feb. 08	Mar. 08	Apr. 08	May 08
¹Interest Rates
0 + 0	5.75	6.375	6.000	6.000	6.375
1 + 0	5.50	6.125	5.750	5.750	6.125
Unemployment Rates
*Richmond Metro	3.5%	3.9%	4.1%	N/A	N/A
**Virginia	3.5%	3.8%	3.9%	3.5%	3.9%
**US	4.9%	4.8%	5.1%	5.0%	5.5%
²Foreclosure Rates	Foreclosures Per Household
5Richmond Metro	1 in 1103	N/A	N/A	N/A	N/A
Virginia	1 in 900	1 in 758	1 in 655	1 in 618	1 in 669
US	1 in 579	1 in 557	1 in 538	1 in 519	1 in 483
³Avg. SF Sales Price
³Richmond Metro	$260,930	$260,081	$272,429	$260,236	$248,005
4Virginia	N/A	N/A	Q1 – $307,654	N/A	N/A
5US	$245,500	$240,700	$247,700	N/A	N/A
³Avg. Twnhm/Condo Sales Price	$214,052	$198,779	$232,613	$226,105	$237,756
³SF Units Sold (Rich. Metro)	617	786	995	1046	1095
³Twnhm/Condo Units Sold	72	76	132	114	149
³Avg. SF LP/SP Ratio %	97.2%	97.3%	97.3%	97.1%	97.0%
³Avg. Twnhm/Condo LP/SP Ratio %	98.4%	98.7%	98.3%	98.6%	97.0%
³SF New Listings on Mkt (Rich. Metro)	3211	2834	2983	3322	3018
³Twnhm/Condo New Listings on Mkt (Rich. Metro)	435	328	314	406	416
Sources:
¹Prosperity Mortgage – note: estimated averages
²RealtyTrac
³CVRMLS
*Virginia Employment Commission
**US Dept. of Labor Statistics
²Office of Federal Housing Enterprise Oversight
4VAR
5NAR
Note:  N/A = Not Available

 

 

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