Monday, October 31, 2011

Real Buyers in Richmond? Q3's Latest Metrics




See this latest chart during the 3rd quarter of Real Buyers (a.k.a. closed sales) in the Greater Richmond Metro Area. You can see from the chart that the greatest number of sales were in the $150-225k price band. Contrary to many news reports, you can see that we're actually selling quite a few houses in the area. In fact, I'm running into Highest and Best on about 50% of my transactions right now - a nice October bump in business! Will it hold, we'll find out next month, but I'm optimistic given the historic low interest rate environment!

Once October closes, then I'll be charting Henrico vs. Chesterfield in the battle of North vs. South of the River for that individual month!

P.S. - Trick or treat, can you believe that I actually closed a $400,000 cash sale today on a horse farm out in Montpelier? I'm still trying to figure that one out, but it'll serve as quite a tasty Halloween treat!

Thursday, October 27, 2011

Q3 - Richmond Marketing Report




Its been quite a while since my last post, mostly because its been a very busy and exceptional year for me as I've established my team (see the photo of The Wright Choice Richmond Realty Group to the left) and dived much deeper into REO listings.

That being said, I do plan on being a regular contributor going forward and thanks to Ralph Maggiore and Mary Anne Beauty for pushing me to continue to contribute!



I attended a Luxury Home Marketing class put on by Laurie Moore-Moore of the Institute for Luxury Home Marketing in September at the Keller Williams Midlothian office. As part of that class, they discussed various report possibilities to understand the market at various price level bands. So, I've decided to implement this into my blog - I will be providing a quarterly report for the entire market and then additional monthly reports on various micro segments. The photo to the right is a chart showing the expireds versus the current listings in the area.

Any way, this shows the challenges our market is currently facing, especially in the higher price bands.

Thanks so much for keeping in touch and I look forward to tomorrow's post with another of the charts showing the Richmond-Area market real estate data for Q3. Next week, we'll have various charts showing Chesterfield vs Henrico October realty data.