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Answers (2)
- Brenda Feria, "b.feria"
- Contributions:60
According to our MLS, the values have gone down on an average:
2004 - up 12.93%
2005 - up 16.18%
2006 - down 2.5%
2007 - down 3.79%
2008 - down 24.15%
2009 - down 15.89%
This is a little misleading because there were actually areas in Richmond that did not decline in 2006, 2007 and 2009, which is quite surprising. Thanks for your question.
Brenda Feria
Real Living Eudailey Real Estate
2004 - up 12.93%
2005 - up 16.18%
2006 - down 2.5%
2007 - down 3.79%
2008 - down 24.15%
2009 - down 15.89%
This is a little misleading because there were actually areas in Richmond that did not decline in 2006, 2007 and 2009, which is quite surprising. Thanks for your question.
Brenda Feria
Real Living Eudailey Real Estate
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:925
Yourhandyguy,
I am a realtor in Northern Virginia, so I cannot tell you how much property values decreased, or increased, in Richmond, VA.
However, you need to know that real estate is very local and prices vary from neighborhood to neighborhood. Even if I gave you such an average percentage number for Richmond, it would be just a statistical number and NOT very representative of each individual neighborhood.
For example, in Northern Virginia some areas have seen decline by 25%, others by almost 50%, and Arlington weathered the housing recession very nicely with very little decline.
Contact local realtors and they will be able to tell you the statistics for the area you are interested in. Realtors love statistics and will be happy to do that for you.
I am a realtor in Northern Virginia, so I cannot tell you how much property values decreased, or increased, in Richmond, VA.
However, you need to know that real estate is very local and prices vary from neighborhood to neighborhood. Even if I gave you such an average percentage number for Richmond, it would be just a statistical number and NOT very representative of each individual neighborhood.
For example, in Northern Virginia some areas have seen decline by 25%, others by almost 50%, and Arlington weathered the housing recession very nicely with very little decline.
Contact local realtors and they will be able to tell you the statistics for the area you are interested in. Realtors love statistics and will be happy to do that for you.
What is the decline percentage of house value in Richmond, Virginia since 2004?
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