The real estate market in the Richmond region enjoyed continued growth throughout 2017. Luxury real estate sales rose by an impressive 21.1 percent, while overall sales increased by almost double-digits, ending the year 9.4 percent higher than 2016. The Richmond region’s luxury market primarily consists of properties in the $750 K to $2 million price range. Inventory of luxury homes increased by 2.4 percent compared to 2016.
Home inventory was tight during the past year and is predicted to remain low throughout 2018. However, an overall healthy real estate market is predicted for the coming year.
Get an in-depth look at trends in luxury real estate in the Richmond area in the 2017 Year End Richmond Region Market Report.