Area Housing Market 2008 Report – Synopsis

In case you were unaware, perhaps due to living underneath a rock, the housing market has taken a beating. The blog Melissa Savenko’s Richmond Real Estate Review has a 2 page synopsis of the 2008 Central Virginia Housing Market Report.  Some tidbits from her post are below and the full article here.

• Prices in the Greater Metro area were down 14%, on average, from 2007 [SELLERS, NOTE THIS, AND PRICE ACCORDINGLY];
• Sales for the Greater Metro Richmond area were down substantially less (21%) than sales in the Tri-Cities (31%) and the entire Central Virginia MLS (33%);