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          

 

 

Advertisements

One Response

  1. Look at you go! Stats and everything. What do we have to do to get you on twitter? 🙂

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: