The majority of the Richmond real estate market saw an increase in the number of homes sold during the month of September, according to The Long & Foster Market Minute reports. The greater Richmond region includes Chesterfield, Henrico, Goochland and Hanover counties and Richmond City. The Long & Foster Market Minute reports are based on data provided by Central Virginia Regional multiple listing service and its member associations of Realtors and includes residential real estate transactions within specific geographic regions, not just Long & Foster sales.

The number of units sold rose in most of the Richmond region when compared to the same month in 2014. Chesterfield County experienced a 23 percent jump in the number of homes sold. Meanwhile in Hanover, Henrico and Goochland counties, the number of homes sold increased by 16 percent, 15 percent and 14 percent, respectively. In Richmond City, the number of homes sold decreased by 2 percent.

Median sale prices decreased in much of the Richmond region in September compared to year-ago levels. Chesterfield County experienced no change in median sale price, while both Hanover and Henrico counties saw a 2 percent decrease. Other areas experienced declines of 17 percent to 36 percent.

Active inventory decreased in the majority of the region, including by 17 percent in Richmond City, by 14 percent in Hanover County and by 11 percent in Henrico County. Chesterfield County saw a drop of 10 percent, and Goochland County saw an increase of 8 percent.

Houses are still selling at a quick pace in most parts of the Richmond area, with Richmond City seeing a days on market (DOM) average of just 42 days. Henrico County had a DOM average of 50 days, while both Chesterfield and Goochland county had a DOM average of 59 days. In Hanover County, the average DOM was 68 days.

“Though many are still concerned for economic growth in China, The United States economy is continuing to grow and the job market is steadily improving. The stability in the U.S. was also reflected in the real estate market, including locally,” said Jeffrey S. Detwiler, president and chief operating officer of The Long & Foster Companies. “In the Richmond region, we continued to see improvements in the number of homes sold, and we anticipate a healthy last few months of 2015.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.    Information included in this report is based on data supplied by CVR, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CVR or Long & Foster Real Estate, Inc.