Richmond Metro Area Real Estate Market Slumps to Contracts Bottom

A dip in the number of pending transactions in the Richmond Metro Area market over the last 30 days has resulted in the lowest levels for contracts in three months. While 2,546 homes went under contract, there were 2,053 completed sales. Chesterfield County had 724 contracts executed, making it the top contributor. Perhaps due to the contracts numbers, months of inventory is on a four-week upswing, this week hitting four months.

With these listings in the Richmond Metro Area recently dropping in price, this may be the last time to see them before they come off the market:

$4.9M   $1.4M   $2.5M  

Get started right now by checking out Richmond Metro Area homes for sale or reviewing Richmond Metro Area real estate trends.

Demographic facts for the Richmond Metro Area:

  • The median age of all homes is 30.
  • This area usually gets 12.0 inches of snow each year. (U.S. average: 25)
  • The rating in which jobs are expected to grow is 57. (Scale: 1 = Worst, 100 = Best)
  • The average school expenditure per student is $5,388. ($5,691 = national average)

Data reported through 6/14/2017

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Joyner Fine Properties
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