Is Richmond real estate a good investment?
Is Richmond real estate a good investment? As a city on the rise, Richmond has seen a surge in real estate investing over the last few years. Renters and buyers alike are on the hunt for quality homes, and savvy investors are meeting that need — often at great financial gain.
Is Richmond VA a hot real estate market? Home values in Richmond have increased by 15.1% over the last year. Over the past five years home values in Richmond have increased by 65%. Median list price of a single-family home in Richmond is $325,000 based on the most recent report from Realtor.com (April 2022).
Is Richmond VA a buyers or sellers market? Richmond, VA is a seller’s market in July 2022, which means that there are more people looking to buy than there are homes available.
Is Richmond VA booming? The city is “booming,” its population having increased nearly 10% to 225,000 between 2010 and 2016 (the Richmond metropolitan area has 1.2 million people). Concomitant gains in employment, business growth, and property value appear to have benefited certain groups of residents while leaving out others.