If you haven’t already felt, noticed or experienced the happening growth of Richmond, VA, then you've been living under a rock. New jobs are coming to Richmond every day, National media coverage over our food scene, press from the World’s Bike Race and so on have brought our little city into the spotlight. People are looking to relocate here because it’s beautiful and affordable. Richmond’s population growth is expected to outpace Virginia’s in the next 5 years. This means LOTS of housing demand. If you’ve been thinking about selling your home, now is the time to make a move!
Here are the 5 reasons, from We are the R, on why you should list your house NOW!
1. Lowered inventory means less competition.
According to We are the R’s statistics, local inventory has fallen 14% in the past year, but sales have increased by 3%! Take advantage of this demand for your home. Heightened competition could mean a great price fro your home.
2. Regional home prices have stabilized.
In recent years, home values have increased throughout the area. Not only is inventory in your working for you, but market conditions as well.
3. Interest rates are favorable to buy.
Home lending rates are still at historical lows, which means more people qualify to buy your home! According to We are the R, the average 30-year fixed mortgage interest rate over the past 10 years has been 5.45 percent.
4. Our region is attractive to homebuyers.
As I mentioned earlier, Richmond is growing to national recognition. We are offering jobs, affordability, and a great place to live all around!
5. Warm weather means increased foot traffic.
It’s as simple as a change in weather. People are out and about on sunny Spring days and going to open houses!
So don't wait to list your house during an ideal time of year, but also, while Richmond is in growing demand!
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