The Market Today in Richmond

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Currently, the Richmond real estate market favors sellers. Inventory, average days on the market, and foreclosures are low. We're experiencing more and more multiple offer scenarios. Although overpriced properties sit on the market for longer, appropriately priced properties are on the market for a less amount of time.

Interest rates are sitting at around 4%. I anticipate rates increasing this spring. If you’re on the fence about buying or selling a home, act now before interest rates rise. We hear a lot of clients say they want to wait until the spring to sell. However, I think it’s a good time to take advantage of rates while they are still low. Plus, there are more listings in the spring, which brings more competition to the seller.

Give us a call or email today! We’re happy to serve you and your real estate needs.