Richmond Va Housing Market Update & 2024 Real Estate Predictions

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Richmond Va Housing Market Update & 2024 Real Estate Predictions | Richmond VA Real Estate

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Күн бұрын

If you are curious what's going on in the Richmond Housing Market right now, and want to know what is very likely to happen in Richmond real estate in 2024, this is the video for you. I will tell you what I have been seeing in the real estate market over the past few months, and I will also tell you what I think 2024's real estate market is going to be like. I also back up my predictions by showing you the trends I am basing the predictions off of, and with what I have been seeing firsthand working with our clients.
My predictions should be correct so long as nothing drastic changes (rates drop super low again, rates go above 8% again...or another pandemic...or WW III). Hopefully nothing too extreme will occur, and I am hopeful that by 2025 we will see a real estate market that closer resembles normal. Give this video a watch, and please remember to make real estate decisions based on what is good for you personally and financially. Don't try to time the market, just be ready to meet the market where it is at whenever you jump in.
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Пікірлер: 10

@JeremiahRios27 2 ай бұрын

We Love Richmond Virginia

@georgefreund5622 7 ай бұрын

Ranked 35th in stats but #1 in quality, integrity, and faith!

@GeeMak999 3 ай бұрын

Sure it a great 7 percent interest

@JohnsDeb 8 ай бұрын

I appreciate your honesty. I lost my why on renting vs buying. I sold my townhome & bought a condo & maxed out. I wish I would’ve rented before buying. I made to quick of a decision & I don’t have $ to repair items now. I’m a senior on a fixed income, with not too much wiggle room.

@LivingInRichmondVirginia 8 ай бұрын

Thank you! I am sorry to hear about your situation. Hopefully it will improve some over time.

@caitlinbaron6684 7 ай бұрын

This is awesome! And #35 out of 4500+!!!! Wow 👏👏

@Sebbo2524 7 ай бұрын

Thank you for this!

@LivingInRichmondVirginia 7 ай бұрын

Thank you for watching!

@fransikaye 8 ай бұрын

Will you please do this type of analysis from the sellers point of view? For example, is the "competitive time" the same as when the inventory is lower? Like if someone is selling but not yet planning to buy, wouldn't low inventory (interest rates aside) be more likely to generate more competitive offers?

@LivingInRichmondVirginia 8 ай бұрын

TL;DR - April. You are exactly correct, the competitive times are usually when inventory is the lowest and/or slowest. This creates pent up buying demand and multiple offer scenarios. Unsure if we will do a video specifically addressing this for sellers since our focus our business working with relocation buyers, but I can answer your question. Historically April is the best time to sell in RVA. Looking at the statistic of Sold Price to List Price ratio it usually peaks in May/June BUT keep in mind that the homes the CLOSE in May/June received their offer 1-1.5 months prior. It's interesting to see that it's much later than when inventory bottoms out (Dec, Jan Feb). During the winter months when inventory is at it's lowest the Sold Price to List Price ratio is lower (less above asking offers) compared to May/June. This is speculation but could be less buyers actively looking during the winter. It could also be market lag taking some time to respond to whichever way the market is trending. Thanks for watching and asking your question!