According to the Central Region Multi-listing Service, home sales in the Richmond region are down – 1.34 percent compared to 2011. However, Chesterfield home sales have actually increased over last month – 325 in December versus 301 in November 2012 an increase of 8 percent.
According to a report by Long & Foster Real Estate, some important indicators have the real estate market in Chesterfield looking up.
The inventory of homes on the market in Chesterfield is currently lower by 12 percent – 1, 624 homes compared to 1,869 in December 2011. Of special interest, in December, there was 5.1 months of home supply available in Chesterfield compared to 5.7 in 2011.
Long & Foster reports that in December 2012, there were 362 homes newly listed compared to 360 in December 2011, an increase of 1 percent. The number of days a home currently stays on the market is 62, which is 16 percent less compared to a year ago.
As Chesterfield County prepares assessments for its new budget year, the median sales price of a home in Chesterfield is on the rise. In December 2011 the median price was $180,500. By December 2012 the median price of a single-family home in Chesterfield rose to $196,000. That would be an increase of 9 percent or $15,500 compared to last year. Median sales price means that the same number of properties is priced above and below the median.
Across the region the median sales price has increased as well. In 2011 the median sales price of a home was $180,000. In 2012 the median price rose 9.72 percent to $197,500.
You can view the entire Richmond regional report at http://rarealtors.com/images/documents/Inventory_Report_SF_-_Richmond_Me...