Market Conditions July 24, 2007
The Richmond, Virginia, market has many sellers seeing a rough road ahead. Listing are remaining on the market longer than they did last year, as buyers take more time to make their final purchases. One local expert reports to Realty Times, "If you're a buyer, there are and will be some incredible opportunities arising as we progress through the year. Sellers across the board are slowly realizing the market has turned and it's a buyer's market." The good news for sellers is in the pricing. Despite a slow down in the market, median prices have increased $30,000 since 2006 -- bringing the current median for the Richmond metro area to $275,000. |
