2019 RICHMOND
ANNUAL REPORT
We’re here to answer the question
HOW’S THE MARKET? Happy New Year! 2019 was fantastic, thanks to wonderful clients like you. We know that buying or selling a home is an incredibly emotional process, so thank you for trusting me/us to be there with you every step of the way. As we look forward to the new year, let’s also look back on 2019 to explore the real estate market’s performance. At Nest, we make it a priority to stay informed on market trends so we can pass along the most up-to-date information to you. So whether you’re considering selling your existing home, purchasing a new home, or you simply enjoy keeping tabs on the real estate market in general, it’s our pleasure to present you with the 2019 Nest Realty Annual Report. Have questions about the report, or a friend who’s interested in buying or selling? We’d love to hear from you! Thank you once again for trusting us with your real estate needs. We wish you a happy new year, from our nest to yours!
Nest Realty richmond
C O NTENTS HOW’S THE MARKET?
4
YEAR IN REVIEW
5
HOW TO READ OUR REPORT
6
RICHMOND MSA
7
CITY OF RICHMOND
8
CHESTERFIELD COUNTY
9
GOOCHLAND COUNTY
10
HANOVER COUNTY
11
HENRICO COUNTY
12
CITY OF RICHMOND AREAS CENTRAL RICHMOND
13
CHURCH HILL
13
NORTHSIDE
14
SOUTHSIDE
14
THE WEST END
15
CHESTERFIELD COUNTY AREAS BON AIR
16
MIDLOTHIAN
17
NORTH CHESTERFIELD
18
SOUTH CHESTERFIELD
18
HANOVER COUNTY AREAS ASHLAND
19
MECHANICSVILLE
19
EASTERN HANOVER
20
WESTERN HANOVER
20
HENRICO COUNTY AREAS CENTRAL HENRICO
21
EASTERN HENRICO
21
GLEN ALLEN
22
NEAR WEST END
23
FAR WEST END
23
SHORT PUMP
24
CONDOS & NEW CONTRUCTION
25
RECENT SALES
26
RI C H M ON D MA R K E T We’re excited to finalize the 2019 Richmond Nest
2019. But even there, the Average Price paid Per
Annual Report and get it out to you. This is our fourth
Square Foot was up, indicating that the Median Price
year publishing this study in the Richmond market,
shift was more a matter of size of homes sold than
and it continues to be enlightening to us to review
actual value shift. The same was true of all 19 areas.
the information and dig deeper into the meaning of
Not one area suffered a drop in price per square foot
these numbers. If you have questions regarding the
over the last year.
report or how it relates to your home and your plans, just reach out to a Nester here in Richmond, and we promise to be here to help.
they can also limit the number of future buyers, or cause a drop in sales. But in 2019, the number of
There are years that are better for buyers and years
sales increased in the City and all four surrounding
that are better for sellers. 2109 was an interesting one,
counties in our MSA, indicating the current economic
as sellers found an ample supply of ready, willing, and
conditions are supporting a continued surge in sales.
able buyers, and buyers, when they could secure a contract, found a financial market with extremely low interest rates and price increases that quickly brought equity to many new homeowners in short order. Across the larger Richmond area, only one county, Goochland, saw a reduction in Median Price during 4
And while price increases are good for home owners,
We’ll be watching 2020 to see if more homes become available for sale this year. We are beginning to see very slight increase in Days on Market in the higher price points, but even there, the availability of homes is not sufficient for a balanced market.
Nest Realty Richmond
YEAR IN REVIEW
13
7
NEST OFFICES
DAYS ON MARKET
During 2019 we opened offices in Roanoke, VA, and Greensboro, NC, continuing our efforts to bring great service throughout the Mid-Atlantic region.
Nest listings sold in an average of seven days on market. That’s half the time of the Richmond MLS average. Our agents get it done faster.
3.5%
10
HIGHER SALES PRICE
NEST AREAS
Nest listings sold for 3.5% more than the market as a percent of the list price. Based on our median sales price, that’s $9,750 more in our sellers’ pockets.
We work with clients all over the region. We had sales in 10 different MLS areas - from Caroline County to Southern Chesterfield, and everywhere in between.
864
113%
SQUARE FEET
GAIN FOR SELLERS
Small houses are all the rage, and the smallest detached home we helped a client buy this year was only 864 square feet.
The average seller of a home with Nest in 2019 sold their house for more than 113% of what they paid for it. That’s one of the reasons real estate is such a dominant force in wealth creation.
5
H OW TO RE A D YO UR R E P O RT We designed our graphs to give you a quick understanding of how the total number of sales has grown year over year, along with the median price. This knowledge can help support your decision to buy or sell.
TOTAL SALES VS. MEDIAN PRICE 4,000
$320,000
3,800
$300,000
3,600
$280,000
3,400
$260,000
3,200
$240,000
3,000
$220,000
2015
2016
2017
2018
2019
The graph table is a quick look at how the area has changed year after year. You can always check the side “trend” column to get a quick glance at how the market is doing. Just remember, a down arrow isn’t always scary. Sometimes you want the arrow to point down for days on market. This means that listed homes are selling quicker than in previous years.
MSA
2017
%
2018
%
2019
Total Sales
3,514
5.41
3,704
4.45
3,869
$275,000
7.27
$295,000
4.07
$307.000
Price per Sq. Ft.
$149
8.05
$161
1.24
$163
Days on Market
77
-12.99
67
-11.94
59
Avg. List Price
$351,523
8.04
$379,791
0.93
$383,329
Median Price
TREND
FLAT
Our candlestick graphs help explain the Nest areas more clearly. The top graph below shows the lowest and highest prices paid for a house within an entire Nest area last year, along with a block that shows you the price range in which the majority of the homes were sold. A similar graph, at the bottom of the page, defines the range of lot sizes available, along with a block that shows the range in which most lot sizes fell this year. first line is minimum
Last line is maximum
average range
Price Range $0
$250,000
$500,000
$750,000
$1 M +
0
2.5
5.0
7.5
10 +
Lot Size (in acres)
average lot size
6
R IC HMO N D M S A
TOTAL SALES VS. MEDIAN PRICE 17,000
$270,000
16,000
$260,000
15,000
$250,000
14,000
$240,000
13,000
$230,000
12,000
$220,000
2015
RICHMOND MSA
2016
2017
2018
2019
2017
%
2018
%
2019
16,665
-2.22
16,295
4.49
17,027
$248,000
4.80
$259,900
3.89
$270,000
Price per Sq. Ft.
$134
5.22
$141
3.55
$146
Days on Market
37
-13.51
32
0.00
32
Avg. List Price
$310,268
3.32
$320,556
3.41
$331,494
Avg. Sales Price
$285,798
3.77
$296,573
3.51
$306,976
$4,762,817,173
1.47
$4,832,657,731
8.16
$5,226,874,541
Total Sales Median Price
Total Volume
TREND
FLAT
*The Richmond MSA consists of the City of Richmond, Chesterfield, Hanover, Henrico, and Goochland counties. Data as of 1/8/20.
7
C I TY O F RI CH M ON D
TOTAL SALES VS. MEDIAN PRICE 3,200
$260,000
3,000
$240,000
2,800
$220,000
2,600
$200,000
2,400
$180,000
2,200
$160,000
2015
2017
2018
2019
RICHMOND
2017
%
2018
%
2019
Total Sales
3,067
-1.27
3,028
6.57
3,227
$230,000
3.04
$237,000
7.59
$255,000
Price per Sq. Ft.
$149
6.04
$158
6.33
$168
Days on Market
32
-15.63
27
11.11
30
Avg. List Price
$288,074
-0.75
$285,910
10.30
$315,360
Avg. Sales Price
$276,491
2.07
$282,215
7.01
$301,987
$847,997,897
0.77
$854,547,020
14.04
$974,512,049
Median Price
Total Volume
8
2016
TREND
C HE STE R F I E L D C O U N TY
TOTAL SALES VS. MEDIAN PRICE 7,000
$260,000
6,500
$240,000
6,000
$220,000
5,500
$200,000
5,000
$180,000
4,500
$160,000
2015
2016
2017
2018
2019
CHESTERFIELD
2017
%
2018
%
2019
Total Sales
6,358
-1.56
6,259
6.23
6,649
$248,000
4.23
$258,500
3.68
$268,000
Price per Sq. Ft.
$122
4.10
$127
4.72
$133
Days on Market
38
-10.53
34
0.00
34
Avg. List Price
$301,720
4.00
$313,778
2.40
$321,295
Avg. Sales Price
$278,286
2.92
$286,407
3.67
$296,909
$1,769,342,388
1.32
$1,792,621,413
10.13
$1,974,147,941
Median Price
Total Volume
TREND
FLAT
9
GO O C H LAND C O UN TY
TOTAL SALES VS. MEDIAN PRICE 400
$450,000
350
$400,000
300
$350,000
250
$300,000
200
$250,000
150
$200,000
2015
GOOCHLAND
2017
2018
2019
2017
%
2018
%
2019
352
1.70
358
0.56
360
$410,000
3.65
$424,950
-7.75
$392,000
Price per Sq. Ft.
$159
3.14
$164
0.61
$165
Days on Market
55
-7.27
51
-11.76
45
Avg. List Price
$524,440
4.08
$545,829
-4.74
$519,979
Avg. Sales Price
$452,846
8.04
$489,243
-5.80
$460,879
$159,401,792
9.88
$175,148,994
-5.27
$165,916,440
Total Sales Median Price
Total Volume
10
2016
TREND
H A N OV E R C O UN T Y
TOTAL SALES VS. MEDIAN PRICE 1,800
$310,000
1,700
$300,000
1,600
$290,000
1,500
$280,000
1,400
$270,000
1,300
$260,000
2015
2016
2017
2018
2019
HANOVER
2017
%
2018
%
2019
Total Sales
1,741
-1.15
1,721
0.58
1,731
$278,245
4.22
$290,000
5.63
$306,317
Price per Sq. Ft.
$137
3.65
$142
4.23
$148
Days on Market
42
-2.38
41
-12.20
36
Avg. List Price
$331,661
4.86
$347,793
3.56
$360,161
Avg. Sales Price
$299,463
5.19
$314,993
4.17
$328,143
$521,364,830
3.98
$542,103,575
4.78
$568,016,343
Median Price
Total Volume
TREND
11
H E NRI C O C O UN TY
TOTAL SALES VS. MEDIAN PRICE 5,500
$260,000
5,000
$240,000
4,500
$220,000
4,000
$200,000
3,500
$180,000
3,000
$160,000
2015
2017
2018
2019
HENRICO
2017
%
2018
%
2019
Total Sales
5,147
-4.24
4,929
2.66
5,060
$237,000
6.31
$251,950
4.78
$264,000
Price per Sq. Ft.
$135
7.41
$145
2.76
$149
Days on Market
36
-19.44
29
3.45
30
Avg. List Price
$308,137
4.08
$320,707
2.06
$327,303
Avg. Sales Price
$284,576
4.67
$297,877
2.46
$305,193
$1,464,711,759
0.24
$1,468,236,317
5.18
$1,544,277,782
Median Price
Total Volume
12
2016
TREND
C E N TR A L R I C H M O N D 1931
4.07
1,973
1,098
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
CENTRAL RVA
2018
%
2019
575
-1.04
569
$300,000
16.67
$350,000
Price per Sq. Ft.
$217
5.53
$229
Days on Market
26
0.00
26
Avg. List Price
$368,750
13.44
$418,306
Avg. Sales Price
$349,132
13.74
$397,108
$200,750,658
12.55
$225,954,635
Total Sales Median Price
Total Volume
TREND
FLAT
TOTAL SALES VS. MEDIAN PRICE
Price Range $0
$250,000
$500,000
$750,000
$1 M +
580
$360,000
560
$340,000
540
$320,000
520
$300,000
500
$280,000
480
$260,000
Lot Size (in acres)
0
5.0
2.5
7.5
2015
10 +
2016
2017
2018
2019
C HU R C H H I L L 1936
10.45
1,611
947
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
CHURCH HILL
2018
%
2019
Total Sales
456
19.08
543
$185,000
8.11
$200,000
Price per Sq. Ft.
$130
10.77
$144
Days on Market
31
6.45
33
Avg. List Price
$221,333
7.37
$237,648
Avg. Sales Price
$205,226
8.49
$222,646
$93,583,056
29.19
$120,896,778
Median Price
Total Volume
TREND
TOTAL SALES VS. MEDIAN PRICE
Price Range $0
$250,000
$500,000
$750,000
$1 M +
Lot Size (in acres)
0
2.5
5.0
7.5
10 +
550
$200,000
500
$180,000
450
$160,000
400
$140,000
350
$120,000
300
$100,000
2015
2016
2017
2018
2019
13
NO RTH S IDE 1934
3.92
1,771
1,641
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
NORTHSIDE
2018
%
2019
510
12.16
572
$225,000
4.22
$234,500
Price per Sq. Ft.
$131
6.87
$140
Days on Market
28
28.57
36
Avg. List Price
$239,668
7.63
$257,962
Avg. Sales Price
$234,851
4.81
$246,152
$119,773,984
17.55
$140,799,087
Total Sales Median Price
TOTAL SALES VS. MEDIAN PRICE 600
$240,000
550
$220,000
500
$200,000
450
$180,000
400
$160,000
350
$140,000
2015
2016
2017
2018
Total Volume
TREND
Price Range $0
$250,000
$500,000
$750,000
$1 M +
0
2.5
5.0
7.5
10 +
Lot Size
2019
(in acres)
S O UTH SIDE 1959
5.30
1,698
1,569
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
SOUTHSIDE
2018
%
2019
TREND
Total Sales
1,108
-0.45
1,103
FLAT
$176,000
9.38
$192,500
Price per Sq. Ft.
$123
8.94
$134
Days on Market
25
12.00
28
Avg. List Price
$224,709
6.29
$238,838
Avg. Sales Price
$211,059
9.11
$230,281
$233,852,830
8.62
$254,000,394
Median Price
TOTAL SALES VS. MEDIAN PRICE 1,200
$200,000
1,100
$180,000
1,000
$160,000
900
$140,000
800
$120,000
700
$100,000
2015
14
2016
2017
2018
2019
Total Volume
Price Range $0
$250,000
$500,000
$750,000
$1 M +
0
2.5
5.0
7.5
10 +
Lot Size (in acres)
TH E W EST E N D 1949
2.65
2,450
1,240
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
2018
%
2019
381
2.89
392
$445,000
6.74
$474,990
Price per Sq. Ft.
$236
5.51
$249
Days on Market
29
-17.24
24
Avg. List Price
$556,713
7.95
$600,988
Avg. Sales Price
$551,511
3.22
$569,273
$210,125,809
6.20
$223,154,891
THE WEST END
Total Sales Median Price
Total Volume
TREND
TOTAL SALES VS. MEDIAN PRICE
Price Range $0
$250,000
$500,000
$750,000
$1 M +
420
$500,000
400
$475,000
380
$450,000
360
$425,000
340
$400,000
320
$375,000
Lot Size (in acres)
0
2.5
5.0
7.5
10 +
2015
2016
2017
2018
2019
ARE A S POT L I G H T
GREENLEAF POOL ROOM
THE BYRD THEATRE
THE ROOSEVELT
We love everything about Greenleaf’s Pool
Now in its 92nd year, The Byrd Theatre is a
A nationally recognized restaurant within
Room—the vibe, the eats, the vibrant green
local treasure. Both a state and national
the bustling Church Hill dining scene in
tables hovering over the black and white
historic landmark, the Richmond, VA,
Richmond, VA, The Roosevelt features
checkered floors. This downtown Richmond,
theater is stunning—complete with marbled
James Beard Award nominated chef Lee
VA, joint is as stylish as it is lively. The
walls, gold leaf arches, painted murals, and
Gregory and serves nouvelle American
antique-looking bar and gorgeous green
an 18-foot crystal chandelier.
cuisine. Be sure to try the signature
tufted benches set the mood for rounds of
cocktail—the seersucker.
fun with your best pals.
15
BO N AIR
TOTAL SALES VS. MEDIAN PRICE 280
$250,000
260
$240,000
240
$230,000
220
$220,000
200
$210,000
180
$200,000
2015
2017
2018
2019
BON AIR
2017
%
2018
%
2019
Total Sales
247
2.83
254
6.30
270
$225,000
8.89
$245,000
1.43
$248,500
Price per Sq. Ft.
$116
6.03
$123
4.07
$128
Days on Market
26
15.38
30
-30.00
21
Avg. List Price
$245,052
4.94
$257,165
-0.99
$254,613
Avg. Sales Price
$235,083
6.14
$249,519
1.58
$253,453
$58,065,501
9.15
$63,377,826
7.98
$68,432,310
Median Price
Total Volume
16
2016
TREND
MIDLOT H I A N
TOTAL SALES VS. MEDIAN PRICE 2,200
$300,000
2,000
$290,000
1,800
$280,000
1,600
$270,000
1,400
$260,000
1,200
$250,000
2015
2016
2017
2018
2019
MIDLOTHIAN
2017
%
2018
%
2019
Total Sales
1,986
-4.03
1,906
2.15
1,947
$291,500
1.89
$297,000
2.69
$305,000
Price per Sq. Ft.
$132
3.79
$137
1.46
$139
Days on Market
35
0.00
35
2.86
36
Avg. List Price
$358,744
6.76
$382,994
1.01
$386,869
Avg. Sales Price
$341,002
1.17
$344,976
3.16
$355,893
$677,230,110
-2.91
$657,524,660
5.38
$692,923,976
Median Price
Total Volume
TREND
17
NO RTH CH E STE RFI ELD 1986
5.84
1,869
1,587
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
N. CHESTERFIELD
2018
%
2019
Total Sales
1,213
-5.94
1,141
$206,000
6.80
$220,000
Price per Sq. Ft.
$120
5.00
$126
Days on Market
26
-19.23
21
Avg. List Price
$222,345
5.36
$234,266
Avg. Sales Price
$214,069
4.96
$224,694
$259,665,515
-1.27
$256,376,403
Median Price
TOTAL SALES VS. MEDIAN PRICE 1,300
$220,000
1,200
$200,000
1,100
$180,000
1,000
$160,000
900
$140,000
800
$120,000
2015
2016
2017
2018
Total Volume
TREND
Price Range $0
$250,000
$500,000
$750,000
$1 M +
0
2.5
5.0
7.5
10 +
Lot Size
2019
(in acres)
S O UTH C H E STE RFI ELD 1995
19.67
2,295
1,649
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
S. CHESTERFIELD
2018
%
2019
Total Sales
2,711
-2.29
2,649
$262,950
-1.50
$259,000
Price per Sq. Ft.
$123
3.25
$127
Days on Market
39
-7.69
36
Avg. List Price
$298,096
1.24
$301,793
Avg. Sales Price
$275,884
0.99
$278,613
$747,921,761
-1.32
$738,045,081
Median Price
TOTAL SALES VS. MEDIAN PRICE 3,500
$280,000
3,000
$260,000
2,500
$240,000
2,000
$220,000
1,500
$200,000
1,000
$180,000
2015
18
2016
2017
2018
2019
Total Volume
TREND
Price Range $0
$250,000
$500,000
$750,000
$1 M +
0
2.5
5.0
7.5
10 +
Lot Size (in acres)
AS H L A N D 1979 AVERAGE YEAR HOUSES BUILT
14.11
1,750
1,377
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
ASHLAND
2018
%
2019
Total Sales
70
7.14
75
$220,000
5.45
$232,000
Price per Sq. Ft.
$139
10.07
$153
Days on Market
26
0.00
26
Avg. List Price
$243,268
8.04
$262,823
Avg. Sales Price
$238,010
1.15
$240,754
$16,660,700
8.38
$18,056,550
Median Price
Total Volume
TREND
FLAT
TOTAL SALES VS. MEDIAN PRICE
Price Range $0
$250,000
$500,000
$750,000
$1 M +
120
$240,000
100
$220,000
80
$200,000
60
$180,000
40
$160,000
20
$140,000
Lot Size (in acres)
0
5.0
2.5
7.5
2015
10 +
2016
2017
2018
2019
M E C HA N I C SV I L L E 1988
8.12
1,984
1,767
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
2018
%
2019
688
-11.92
606
$245,000
2.04
$250,000
Price per Sq. Ft.
$140
3.57
$145
Days on Market
34
-29.41
24
Avg. List Price
$276,915
2.23
$283,084
Avg. Sales Price
$266,114
0.86
$268,405
$183,086,597
-11.16
$162,653,530
MECHANICSVILLE
Total Sales Median Price
Total Volume
TREND
TOTAL SALES VS. MEDIAN PRICE
Price Range $0
$250,000
$500,000
$750,000
$1 M +
Lot Size (in acres)
0
2.5
5.0
7.5
10 +
800
$250,000
750
$240,000
700
$230,000
650
$220,000
600
$210,000
550
$200,000
2015
2016
2017
2018
2019
19
EASTERN H ANOVER 1993
17.22
2,626
1,883
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
E. HANOVER
2018
%
2019
Total Sales
520
5.38
548
$340,000
-0.74
$337,500
Price per Sq. Ft.
$139
2.16
$142
Days on Market
46
-17.39
38
Avg. List Price
$379,386
0.70
$382,056
Avg. Sales Price
$351,353
0.33
$352,504
$182,703,637
5.73
$193,172,421
Median Price
TOTAL SALES VS. MEDIAN PRICE $340,000
650
$330,000
600
Total Volume
TREND
$320,000
550
$310,000
500
$300,000
450
Price Range
$290,000
400
$280,000 2015
2016
2017
2018
2019
$0
$250,000
$500,000
$750,000
$1 M +
0
2.5
5.0
7.5
10 +
Lot Size (in acres)
WESTE RN H ANOVER 1989
11.37
2,532
1,841
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
2018
%
2019
319
-2.51
311
$327,000
8.84
$355,900
Price per Sq. Ft.
$147
1.36
$149
Days on Market
52
9.62
57
Avg. List Price
$410,490
3.21
$423,652
Avg. Sales Price
$353,172
5.81
$373,686
$112,661,763
3.16
$116,216,383
W. HANOVER
Total Sales Median Price
TOTAL SALES VS. MEDIAN PRICE 400
$360,000
350
$340,000
300
$320,000
250
$300,000
200
$280,000
150
$260,000
2015
20
2016
2017
2018
2019
Total Volume
TREND
Price Range $0
$250,000
$500,000
$750,000
$1 M +
0
2.5
5.0
7.5
10 +
Lot Size (in acres)
C E NTR A L H E N R I C O 1970
8.60
1,644
1,554
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
C. HENRICO
2018
%
2019
811
13.19
918
$197,000
12.94
$222,500
Price per Sq. Ft.
$132
6.06
$140
Days on Market
22
13.64
25
Avg. List Price
$208,818
15.30
$240,769
Avg. Sales Price
$201,738
11.97
$225,892
$163,609,772
26.75
$207,368,714
Total Sales Median Price
Total Volume
TREND
TOTAL SALES VS. MEDIAN PRICE
Price Range $0
$250,000
$500,000
$750,000
$1 M +
1,100
$220,000
1,000
$210,000
900
$200,000
800
$190,000
700
$180,000
600
$170,000
Lot Size (in acres)
0
5.0
2.5
7.5
2015
10 +
2016
2017
2018
2019
E ASTE R N H E N R I C O 1980 AVERAGE YEAR HOUSES BUILT
12.20
1,667
1,528
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
E. HENRICO
2018
%
2019
Total Sales
1,120
-5.63
1,057
$183,500
3.51
$189,950
Price per Sq. Ft.
$121
2.48
$124
Days on Market
31
9.68
34
Avg. List Price
$208,744
3.29
$215,614
Avg. Sales Price
$199,334
-0.74
$197,864
$223,253,813
-6.32
$209,141,780
Median Price
Total Volume
TREND
TOTAL SALES VS. MEDIAN PRICE
Price Range $0
$250,000
$500,000
$750,000
$1 M +
Lot Size (in acres)
0
2.5
5.0
7.5
10 +
1,200
$190,000
1,100
$180,000
1,000
$170,000
900
$160,000
800
$150,000
700
$140,000
2015
2016
2017
2018
2019
21
GLE N ALLEN
RI C H M O ND AR E A SP OT LIG HT
VERDALINA Timeless beauty awaits at Verdalina, a boutique known for its socially and
1990
5.94
2,248
1,610
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ.FT.
AVERAGE ATTACHED SQ.FT.
environmentally sustainable pieces. This women’s clothing boutique carries brands chosen not only for their aesthetic, but their departure from fast fashion.
GLEN ALLEN
2018
%
2019
766
-2.61
746
$268,000
4.46
$279,950
Price per Sq. Ft.
$145
2.76
$149
Days on Market
25
-12.00
22
Avg. List Price
$303,444
-0.04
$303,336
FLAT
$291,310
0.15
$291,756
FLAT
$223,143,593
-2.46
$217,649,833
Total Sales Median Price
Avg. Sales Price Total Volume
TOTAL SALES VS. MEDIAN PRICE
VIRGINIA MUSEUM OF FINE ARTS Before you even set foot in the Virginia
850
$280,000
Museum of Fine Arts, you’ll be struck by
800
$270,000
the architectural beauty. Upon entering the
750
$260,000
museum, located in Richmond, VA, you’ll be
700
$250,000
650
$240,000
600
$230,000
treated to a permanent collection of more than 35,000 works from around the world, along with rotating exhibitions
2015
22
2016
2017
2018
2019
TREND
NE A R WE ST E N D 1960
1.00
1,920
1,715
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
2018
%
2019
TREND
538
-0.37
536
FLAT
$289,900
-1.69
$285,000
Price per Sq. Ft.
$176
2.27
$180
Days on Market
22
0.00
22
FLAT
Avg. List Price
$359,000
-0.78
$356,200
FLAT
$325,175
6.41
$346,022
NEAR WEST END
Total Sales Median Price
Avg. Sales Price
TOTAL SALES VS. MEDIAN PRICE $290,000
650
Total Volume
$174,944,194
6.02
$185,467,996
$280,000
600
$270,000
550
$260,000
500
Price Range $0
$250,000
$500,000
$750,000
$1 M +
$250,000
450
$240,000
400
$230,000
Lot Size (in acres)
0
5.0
2.5
7.5
2015
10 +
2016
2017
2018
2019
F AR W E ST E N D 1983
2.50
2,613
1,850
AVERAGE YEAR HOUSES BUILT
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ. FT.
AVERAGE ATTACHED SQ. FT.
FAR WEST END
2018
%
2019
Total Sales
1,178
-3.23
1,140
$315,000
1.90
$321,000
Price per Sq. Ft.
$153
1.96
$156
Days on Market
29
17.24
34
Avg. List Price
$378,105
4.06
$393,472
Avg. Sales Price
$364,780
0.17
$365,382
$429,710,791
-3.07
$416,535,890
Median Price
Total Volume
TREND
TOTAL SALES VS. MEDIAN PRICE
FLAT
Price Range $0
$250,000
$500,000
$750,000
$1 M +
Lot Size (in acres)
0
2.5
5.0
7.5
10 +
1,400
$320,000
1,300
$310,000
1,200
$300,000
1,100
$290,000
1,000
$280,000
900
$270,000
2015
2016
2017
2018
2019
23
S H O RT P UMP
RI C H M O ND AR E A SP OT LIG HT
GALAXY DINER When it’s a cheeseburger and milkshake kind of day, there’s no better place than
2005 AVERAGE YEAR HOUSES BUILT
28.32
3,526
2,204
% OF HOMES LESS THAN 5 YEARS OLD
AVERAGE DETACHED SQ.FT.
AVERAGE ATTACHED SQ.FT.
the Galaxy Diner in Richmond, VA. This funkadelic spot is a colorful space-age meets retro diner that dishes out breakfast
SHORT PUMP
2018
%
2019
501
3.99
521
$465,000
0.00
$465,000
Price per Sq. Ft.
$164
1.22
$166
Days on Market
46
-15.22
39
Avg. List Price
$527,414
1.59
$535,822
Avg. Sales Price
$491,901
0.89
$496,278
$246,442,393
4.92
$258,560,775
TREND
all day long, along with classic diner fare.
Total Sales Median Price
Total Volume
TOTAL SALES VS. MEDIAN PRICE
LITTLE HOUSE GREEN GROCERY Since 2012, the Little House Green Grocery
550
$470,000
in Richmond, VA, has been serving local
500
$460,000
produce, quality meats, fine wines, and
450
$450,000
pantry staples. It’s an adorable gathering
400
$440,000
350
$430,000
300
$420,000
spot for locals to shop, commune, and savor the simpler things in life.
2015
24
2016
2017
2018
2019
FLAT
FLAT
C ONDOS
CONDOS
2018
%
2019
Total Sales
2,395
7.01
2,563
$231,500
7.56
$249,000
Price per Sq. Ft.
$155
3.23
$160
Days on Market
34
0.00
34
Avg. List Price
$268,357
2.17
$274,174
Avg. Sales Price
$260,686
2.18
$266,367
$624,342,970
9.35
$682,698,621
Median Price
Total Volume
TREND
FLAT
N E W C O N ST R UC T I O N
N. CONSTRUCT.
2018
%
2019
TREND
Total Sales
1,883
-0.37
1,876
FLAT
$361,085
-0.56
$359,076
FLAT
Price per Sq. Ft.
$161
1.86
$164
Days on Market
53
5.66
56
Avg. List Price
$396,718
-0.13
$396,215
Avg. Sales Price
$399,959
-2.08
$391,632
$753,122,797
-2.45
$734,701,632
Median Price
Total Volume
FLAT
25
26
Richmond
AREA MAP 2
1 3
5
6 4
7 10 9 11 12
8 13 14
16
15
17 18
19
KEY 1. Western Hanover
6. Glen Allen
11. Northside
16. Bon Air
pg. 20
pg. 22
pg. 14
pg. 16
2. Ashland
7. Central Henrico
12. The West End
17. North Chesterfield
pg. 19
pg. 21
pg. 15
pg. 18
3. Eastern Hanover
8. Eastern Henrico
13. Central Richmond
18. Midlothian
pg. 20
pg. 21
pg. 13
pg. 17
4. Mechanicsville
9. Far West End
14. Church Hill
19. South Chesterfield
pg. 19
pg. 23
pg. 13
pg. 18
5. Short Pump
10. Near West End
15. Southside
pg. 24
pg. 23
pg. 14
NEST REALTY RICHMOND 221 S ROBINSON STREET RICHMOND, VA 23220 NESTREALTY.COM