Virginia Real Estate Trends - A New Way to Look at Virginia Realty

Virginia Real Estate

Recent trends in Virginia real estate indicate that prices have evened out as buyer’s and seller’s negotiate a new understanding of the value of property in the modern economic climate. Between the end of 2011 and April of 2012, the average price for a condo or townhouse in Virginia went from $239,000 to $236,000. Single family homes, both in and out of the city, averaged a list price of $282,000 at the end of last year and seller’s are now asking an average of $270,000. With approximately 55% of the market share, single family homes and townhouses/condos constitute the foundation of the Virginia real estate market.

While the seller’s of single family homes and condos/townhouses seem to have agreed upon the correct price point for Virginia real estate, evidence indicates that buyer’s still expect to get great value for their money. Over the past 5 months, the average sale price of a single family home in Virginia has been $254,000, 11% below the average list price. In the condominium market, the average sale price is $209,000, almost 38% below the asking prices.

Map of Virginia Cities - Average Listing Price Change

Virginia Real Estate:
Largest Increase in Listing Price

City 3 mo.
Moneta, VA Real Estate
10.43%
Amherst, VA Real Estate
8.87%
Warrenton, VA Real Estate
7.14%
Franklin, VA Real Estate
6.85%
Colonial Heights, VA Real Estate
6.58%

Virginia Real Estate:
Largest Decrease in Listing Price

City 3 mo.
Bumpass, VA Real Estate
9.98%
Alexandria, VA Real Estate
7.76%
Smithfield, VA Real Estate
7.63%
Vinton, VA Real Estate
6.50%
Ashland, VA Real Estate
6.14%

Virginia Homes For Sale By City

Most Expensive Virginia Homes for Sale by City

City Median $ 3 mo.
McLean, VA Homes for Sale $2,269,386
2.30%
Great Falls, VA Homes for Sale $1,915,570
0.40%
Vienna, VA Homes for Sale $1,205,952
1.70%
Arlington, VA Homes for Sale $1,192,111
1.37%
Alexandria, VA Homes for Sale $804,028
7.76%

Least Expensive Virginia Homes for Sale by City

City Median $ 3 mo.
Petersburg, VA Homes for Sale $153,493
0.18%
Madison Heights, VA Homes for Sale $159,499
3.48%
Portsmouth, VA Homes for Sale $167,008
0.08%
Hopewell, VA Homes for Sale $171,454
2.49%
Vinton, VA Homes for Sale $176,008
6.50%

Best Virginia Cities for Families and Singles

Top 5 Virginia Cities for Families

City Homes with
Children
Crime vs. Natl. Avg.
Brambleton, VA Local Info 61.00% 0.26
Broadlands, VA Local Info 61.00% 0.26
Linton Hall, VA Local Info 61.00% 0.77
Wyndham, VA Local Info 61.00% 2.71
Bristow, VA Local Info 59.00% 0.78

Top 5 Virginia Cities for Singles

City Unmarried Female
to Male
Blacksburg, VA Local Info 87.00% 45% / 55%
Radford, VA Local Info 82.00% 50% / 50%
Richmond, VA Local Info 82.00% 52% / 48%
Harrisonburg, VA Local Info 81.00% 54% / 46%
Charlottesville, VA Local Info 80.00% 52% / 48%
Methodology

Largest Increase in Listing Price Methodology

This chart uses the median listing price of cities with at least 100 active property listings to calculate the largest percentage increase in median listing prices for single family homes over a three month period.

Largest Decrease in Listing Price Methodology

This chart uses the median listing price of cities with at least 100 active property listings to calculate the largest percentage decrease in median listing prices for single family homes over a three month period.

Most Expensive Homes for Sale by City Methodology

This chart uses the median listing price of cities with at least 100 active property listings to retrieve the cities with the five highest median listing prices of single family homes. In addition, the median listing prices are used to calculate the associated increase or decrease in median listing price as a percentage over a three month period.

Least Expensive Homes for Sale by City Methodology

This chart uses the median listing price of cities with at least 100 active property listings to retrieve the cities with the five lowest median listing prices of single family homes. In addition, the median listing prices are used to calculate the associated increase or decrease in median listing price as a percentage over a three month period.

Top 5 Cities for Families Methodology

This chart displays the top five cities with a population of at least 10,000 that have the highest percentage of homes with children and the lowest crime rate. Crime rate is determined by comparing each city's crime rate index against the national crime rate index, which equals 100. A number lower than one indicates less crime than the national average, while a number greater than one indicates more overall crime than the national average.

Top 5 Cities for Singles Methodology

This chart displays the top five cities with a population of at least 10,000 that have the highest percentage of unmarried people. An unmarried person is defined as someone who was never married, is separated, or divorced.