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residential real estate

Mar 25, 2022

Median home prices rose 9% in Va. since 2021

The cost of buying a home in Virginia increased nearly 9% in the past year, according to a March 21 report from Virginia Realtors. The statewide median sales price in February was $350,000, or $28,550 higher than it was in February 2021. That’s an 8.9% increase and the sharpest gain since June 2021. Not only […]

Mar 20, 2022

Rising interest rates not enough to deter homebuyers

Even the Federal Reserve hiking interest rates likely won’t be enough to cool down the hot real estate market in Virginia, experts say. In an attempt to slow the highest inflation rates in 40 years, Fed officials voted on March 16 to raise the benchmark federal funds rate by a quarter percentage point to a […]

Feb 25, 2022

Jan. Va. home inventory was at all-time-low

Virginia’s housing market set another record in January, hitting an all-time-low of inventory, according to a new report released by Virginia Realtors this week. At the end of last month, there were 12,203 total active listings, which is 4,478 fewer than this time in 2021, a drop of nearly 27%, according to the industry group. […]

Feb 15, 2022

Dan Snyder owns Va.’s most expensive house

Virginia’s most expensive mansion now belongs to one of the most famous men in the commonwealth. River View, once part of George Washington’s Mount Vernon, in Alexandria, was sold on Oct. 29, 2021, for $48 million, according to TTR Sotheby’s International Realty. The agency brokered the sale of the 7-bedroom home with six full bathrooms […]

Jan 24, 2022

Va. housing market broke records in 2021

Last year Virginia’s housing market was one for the record books, according to a new report released Jan. 21 by Virginia Realtors. In 2021, there were 154,340 home sales statewide, a 10.2% increase over 2020, according to the industry association. The median sales price was $350,000, a $30,000 jump, or 9.4% increase, from the previous […]

Jan 14, 2022

NoVa’s 2021 home sales surpassed 2020 total

In Northern Virginia, nearly 27,000 homes were sold in 2021, an increase of 17% over 2020’s total and the highest number of sales since 2005, the Northern Virginia Association of Realtors reported this week. “For the year, the NVAR footprint total sales volume was up by more than 23%, reaching almost $19 billion. This is […]

Jan 14, 2022

Hampton Roads home sales steady at end of 2021

The number of listings in the Hampton Roads real estate market dropped significantly, sales increased, and inventory dropped to a new low in December 2021, Real Estate Information Network Inc. reported. Last month, there were 2,821 active listings, down 26% year-over-year when compared to active listings in December 2020. But the number of properties that […]

Jan 12, 2022

Fifth District economy has moderate growth, Fed says

The Federal Reserve‘s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth but was constrained by supply issues and labor shortages, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered [&hellip[...]

Dec 21, 2021

Homes inventory declined sharply last month in Va.

Virginia’s inventory of homes continues to decline, but buyer demand remains high, according to a report released Tuesday by Virginia Realtors. At the end of November, there were 16,242 active listings across the commonwealth, nearly 25% fewer than the same time last year. The rate of decline in homes on the market slowed down over […]

Brambly Park Winery opened in Richmond’s popular Scott’s Addition neighborhood in summer 2020, offering an outdoor gathering area and an indoor events space. Photo by Shandell Taylor
Nov 29, 2021

Hot property

Richmond real estate developer Andrew Basham’s company, Spy Rock Real Estate, owns so many properties within Scott’s Addition that local business owners jokingly refer to the neighborhood as “Andrew’s Addition.” As the area has become Richmond’s hottest neighborhood — literally and figuratively —  Basham and his business partners at Spy Rock appear to have been [&h[...]

Nov 12, 2021

New luxury apartments coming to downtown Norfolk

With $56.2 million in financing in place, Marathon Development Group’s Frank “Buddy” Gadams is ready to start work on “Gravity 400 Apartments,” in downtown Norfolk, Berkadia Commercial Mortgage LLC and Breeden Construction announced. Located at 400 Waterside Drive, the 273-unit high-rise apartment tower will be have studio, one-, two-, and three-bedroom floor plans, in a [&he[...]

Nov 7, 2021

Reston’s Stanley Martin Homes breaks ground for RVA condos

Reston-based Stanley Martin Homes broke ground on a new downtown Richmond neighborhood, Carver Square, last month. Located in the city’s Carver neighborhood near Virginia Commonwealth University’s Siegel Center and across from Maggie Walker Governor’s School, Carver Square will feature 90 two-over-two-style garage condominiums on two acres at the corner of Moore and Lombary stree[...]

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