Mon May 17 2021
This week the median list price for Henrico, VA is $326,950 with the market action index hovering around 97. This is an increase over last month's market action index of 95. Inventory has increased to 70.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$326,950|
|Median Price of New Listings||$295,000|
|Per Square Foot||$190|
|Average Days on Market||56|
|Median Days on Market||0|
|Strong Seller's Market|
We’re seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$954,950||4,213||1 - 2.5 acres||5||4||18||0||3||84|
|$440,000||2,432||0.25 - 0.5 acre||4||2||29||15||14||0|
|$272,475||1,446||0.25 - 0.5 acre||3||2||65||15||15||0|
|$174,500||1,120||0.25 - 0.5 acre||3||1||66||10||11||0|