AViewFrom TheMetro RichmondRegion
In spite of interest rate hikes,demand for luxury homes continues as people spend more time at home than ever before
In the Metro Richmond Region,the demand for luxury homes has kept this segment of the market competitive
With the pandemic easing and the rising of interest rates,the market is normalizing,but supply is still not meeting the demand for housing
This continued high demand for the Metro Richmond Region should lead to a strong market in 2023
2022Statistics
The benchmark price for ?luxury? homes in the Metro Richmond Area is accepted at $750,000 and over
According to the Central Virginia MLS,there were 1,097 properties sold within that luxury price point during 2022,including 39 over $2 Million
Of the 1,097 properties,303 were specifically in Richmond City
Luxury Outlook 2023 PG#
$566,750 The Steele Group Sotheby's International Realty's Average Sales Price
THE STEELE GROUP SOTHEBY'S INTERNATIONAL REALTY 6726 Patterson Avenue Richmond,Virginia 23226
