gowhatyourself t1_iu90qyy wrote on October 29, 2022 at 2:29 PM

Reply to comment by Sillloc in RVA Real Estate AMA - "What The H*ll Is Happening?" Edition by Kindly_Boysenberry_7

Also an agent. Outside of the city (an important perspective to have considering how unaffordable most of the city is for your average buyer) things are cooling off considerably depending on the area you're looking. I've seen A LOT of properties sitting for more than a week or two that would have been snatched up quickly just a few months ago. The rate hikes and price increases have eaten into everyones buying power a ton and the market is beginning to reflect that.

There are still hot spots here and there though. Short Pump is still sought after. Atlee and VCC are really starting to see a spike in demand. Some parts of Chesterfield are still pretty hot but down there it's very school district dependent.

Charlesinrichmond t1_iu9z6d1 wrote on October 29, 2022 at 6:36 PM

southside of the city is still pretty reasonable. Fan/MD not so much

ifweweresharks t1_iu9hd4p wrote on October 29, 2022 at 4:30 PM

Vcc spike is a relief. Selling in the spring and am starting to worry it won’t go for enough to cover the new (build) house.

gowhatyourself t1_iu9qtfu wrote on October 29, 2022 at 5:37 PM

We live in the VCC area and I sometimes pull comps for our home. It's been nuts because I have very pessimistically priced out my own home in a sort of worst case scenario and it still comes up higher than I feel it should.