$0/mo House For Rent
3 bed, 2.0 bath, 1,056 sqft
Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more
The median list price per square foot in Petersburg is $72, which is lower than the Richmond Metro average of $113. The median price of homes currently listed in Petersburg is $118,500 while the median price of homes that sold is $105,375.
Foreclosures will be a factor impacting home values in the next several years. In Petersburg 8.6 homes are foreclosed (per 10,000). This is greater than the Richmond Metro value of 6.0 and also greater than the national value of 5.0
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Petersburg is 5.8%, which is lower than the national value of 8.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Petersburg homeowners underwater on their mortgage is 24.2%, which is higher than Richmond Metro at 22.2%.more
Homes foreclosed (per 10,000)