The median sale price increased in many areas of the greater Richmond real estate market last month when compared to April 2013, according to The Long & Foster Market Minute reports. Additionally, homes are continuing to sell at a steady pace throughout the Richmond market, which includes Chesterfield, Henrico, Goochland and Hanover counties and Richmond City.

The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

The median sale price increased in many areas of the Richmond region in April compared to year-ago levels. Richmond City experienced a 14 percent increase in median sale price, while Chesterfield and Hanover counties followed closely behind with increases of 13 percent and 8 percent, respectively. Goochland County experienced a 3 percent decrease in median sale price, while Henrico County saw a 10 percent decrease.

Active inventory decreased in much of the area, including by 12 percent in Richmond City and 10 percent in Henrico County. Chesterfield County experienced a 6 percent decrease, while Goochland and Hanover counties experienced increases of 2 percent and 11 percent, correspondingly.

The number of units sold decreased in most of the Richmond area market, though Chesterfield County experienced a 12 percent increase in homes sold. Other areas experienced decreases from 1 percent to 11 percent.

Houses are still selling at a good pace in the Richmond area. Richmond City experienced a days on market (DOM) average of 49 days, and Henrico County saw a DOM of 59 days, followed closely by Chesterfield County at 60 days. Hanover County experienced a days on market average of 61 days, while Goochland County saw a DOM of 74 days.

“The spring housing market is beginning to bounce back, and we’re seeing many positive trends happening in the real estate market in the Mid-Atlantic, including in the Richmond region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “In many places, median sale prices are increasing and homes are selling at a faster pace than in previous months. We anticipate these developments will continue, and we’ll see more great happenings in the real estate market throughout the spring.”

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.