Nearly the entire Richmond Region real estate market saw an increase in the number of homes sold in November, according to the Long & Foster Real Estate Market Minute Report. Henrico County was the only area that experienced a downturn, with a 7% dip in the number of homes sold.  

Median sale prices were up in most of the region with Hanover County experiencing the largest increase of 13%. Goochland County exhibited a 32% dip in median sales price, while Chesterfield County showed no change.  Active inventory also fell by double-digits across the region, and time on the market ranged from 31 days in Richmond City to 59 days in Goochland County.  

The Long & Foster Real Estate Market Minute report for the Richmond region includes Chesterfield, Henrico, Goochland and Hanover counties, and the city of Richmond.  

                                                                          

“The spring market begins in January, so if you’re planning to list your home next spring, it’s not too early to get your house ready,” said Gary Scott, president of Long & Foster Real Estate. “The No. 1 home improvement you should do is declutter. It’s the least expensive and most effective strategy to get your home ready to sell.”  

Scott recommends renting a storage unit for six months and moving your extraneous furniture and personal belongs out of your home. There’s a greater chance that a decluttered house will sell faster and possibly for a higher price than one that is cluttered. By packing away at least some of your personal belongings, it allows your home to look its best, stand out from the competition and makes it easier for buyers to imagine themselves living there.  

“Now is a good time to contact a Long & Foster Real Estate agent to tap into their expertise and follow their suggestions for home improvements to do that will make your home as attractive as possible to buyers,” said Scott.  

Reflecting on real estate in 2019, Scott commented that despite low inventory challenges, there were several factors that were favorable for the market this year. “Interest rates under 4%, a healthy stock market, low unemployment, and ample demand have all contributed to the success of the real estate market this year,” said Scott.   

To learn more about your local market conditions, visit Long & Foster’s Market Insights. You can also learn more about Long & Foster and find an agent at LongandFoster.com.