From a post from VARBUZZ : Good Morning America cited data from Zillow this morning which heralded Virginia Beach as the number one place, and Richmond as the number seven place, to buy a home right now.
While I’m not a huge fan of Zillow and their Zestimates. There does seem to be a rational basis for these findings.
When buying a home, according to Zillow, buyers should “look for communities with a strong job market and stable housing values. Some common threads: cities with military bases, state capitals and college towns all fare well because they are more ‘recession proof.’”
Here’s what Zillow is seeing…
In Virginia Beach:
- Median home value: $223,800, down 1 percent from a year ago.
- Property values are up 7 percent compared to five years ago.
- Houses cost an average of $139 per square foot.
- Buyers are paying 2 percent less than the listing price.
In Richmond:
- Median Home Value: $ 207,000, down 7 percent from a year ago.
- Property values are up 5 percent compared to five years ago.
- Houses cost an average of $119 per square foot.
- Buyers are paying 3 percent less than listing price.
Search VA Beach homes for sale here
Filed under: richmond va real estate, va beach, virginia real estate |
Mr Williamsburg, Revolutionary ideas on real estate!Hampton Roads Virginia 
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