Richmond Real Estate Analysis

The Greater Richmond area extends beyond the city limits into nearby counties. Descriptions of Richmond often describe the large area as falling into one of the four primarily geographic references which somewhat mirror the points of a compass: North Side, Southside, East End and West End. Since there is no one municipal organization that represents the Greater Richmond region, the boundaries of these subregions are loosely defined. The definitions are also affected by the James River which has separated Henrico County on the north bank and Chesterfield County to the south since the latter was formed in the 18th century. Until 1910, the James also separated the City of Richmond on the north bank from the City of Manchester on the south bank, until they merged by mutual agreement in 1910. A large portion of the river which divides the modern City of Richmond is part of the city’s James River Park System.

Except where the James River continues to define a boundary between the West End and Southside, drawing a theoretical line between quadrants of the metropolitan area is not well defined as one moves away from the city. This is especially true north of the James with the distinctions between East, North, and West end areas, all of which are north of the River. In the broadest context, each of these may be considered by some to include portions of Hanover County, which at its closest point, is only 5 miles from the current city limits. However, the Chickahominy River separates the Hanover from Henrico County at this closest point, which is in the Mechanicsville area. Some outlying areas meeting may be considered as independent or outside the Richmond area, such as Mechanicsville, Midlothian, or Short Pump.

 

Check out this interactive map of every neighborhood in Richmond

For anyone who wants to look at some old photos of Richmond on a map check this map out.

Richmond Real Estate Market Stats

Average Home Values

Price Distribution


Owners vs Renters

Home Averages

$606 Average Price
1,482Avg Home Size
1944Avg Year Built

Local vs National Home Values

 LocalNational
Zillow Home Value Index $172,500 $195,700
Median Single Family Home Value $167,000 $194,200
Median Condo Value $195,900 $209,700
Median 2-Bedroom Home Value $116,200 $153,400
Median 3-Bedroom Home Value $163,400 $189,700
Median 4-Bedroom Home Value $268,800 $313,200
Percent Homes Decreasing 7.4% 16%
Percent Listing Price Reduction 10.9% 11.9%
Median List Price Per Sq Ft $122 $125
Median List Price $219,000 $239,500
Median Sale Price 606 2,435,077
Homes For Sale 606 2,435,077
Homes Recently Sold 606 2,435,077
Property Tax $1,488 $2,147
Turnover (Sold Within Last Yr.) 4.9% 3.2%
Median Value Per Sq Ft $143 $132
1-Yr. Change 10.9% 6.9%
Homes For Sale By Owner 28 90,336
New Construction 48 126,105
Foreclosures 12 18,379

Local vs National Demographics

 LocalNational
Median Household Income 31,121 44,512
Single Males 19.8% 14.6%
Single Females 21.2% 12.5%
Median Age 36 36
Homes With Kids 20.4% 31.4%
Average Household Size 2 2
Average Commute Time (Minutes) 23 26

Richmond Real Estate Listings

Active Listings in Richmond

405 North Henry Street Richmond, VA 23220
Photo of 405 North Henry Street, Richmond, VA 23220 (MLS # 1710350)
3 beds 2 baths 912 sqft $89,000
1016 Dixon Drive Richmond, VA 23224
Photo of 1016 Dixon Drive, Richmond, VA 23224 (MLS # 1703860)
2 beds 1 bath 816 sqft $70,000
4023 Clinton Avenue Richmond, VA 23227
Photo of 4023 Clinton Avenue, Richmond, VA 23227 (MLS # 1710259)
3 beds 3 baths 1,960 sqft $329,950
1306 Idlewood Avenue Richmond, VA 23220
Photo of 1306 Idlewood Avenue, Richmond, VA 23220 (MLS # 1709077)
3 beds 3 baths 1,752 sqft $249,950
5402 Cary Street Road Richmond, VA 23226
Photo of 5402 Cary Street Road, Richmond, VA 23226 (MLS # 1706806)
4 beds 5 baths 3,312 sqft $995,000
2109 3rd Avenue Richmond, VA 23222
Photo of 2109 3rd Avenue, Richmond, VA 23222 (MLS # 1710295)
4 beds 4 baths 3,170 sqft $159,950
10251 Apache Road Richmond, VA 23235
Photo of 10251 Apache Road, Richmond, VA 23235 (MLS # 1709441)
5 beds 4 baths 2,940 sqft $429,000
3520 Mcguire Drive Richmond, VA 23224
Photo of 3520 Mcguire Drive, Richmond, VA 23224 (MLS # 1710289)
4 beds 2 baths 1,483 sqft $135,000
4505 Augusta Avenue Richmond, VA 23230
Photo of 4505 Augusta Avenue, Richmond, VA 23230 (MLS # 1710265)
0 beds 0 baths 2,270 sqft $389,950
1630 Monument Avenue, Unit 6 Richmond, VA 23220
Photo of 1630 Monument Avenue, Unit 6, Richmond, VA 23220 (MLS # 1710242)
2 beds 1 bath 897 sqft $215,000
5641 Marc Manor Court Richmond, VA 23225
Photo of 5641 Marc Manor Court, Richmond, VA 23225 (MLS # 1710235)
3 beds 2 baths 1,132 sqft $139,950
8016 Burrundie Drive Richmond, VA 23225
Photo of 8016 Burrundie Drive, Richmond, VA 23225 (MLS # 1710200)
3 beds 2 baths 1,568 sqft $215,000
4632 Grove Avenue, Unit 7 Richmond, VA 23226
Photo of 4632 Grove Avenue, Unit 7, Richmond, VA 23226 (MLS # 1709908)
1 bed 1 bath 490 sqft $137,500
511 South Harrison Street, Unit C Richmond, VA 23220
Photo of 511 South Harrison Street, Unit C, Richmond, VA 23220 (MLS # 1710167)
2 beds 1 bath 620 sqft $164,900
3062 Midlothian Turnpike Richmond, VA 23224
Photo of 3062 Midlothian Turnpike, Richmond, VA 23224 (MLS # 1709892)
3 beds 1 bath 1,014 sqft $85,000

Walk Score for Richmond



Richmond School Data

Richmond School Districts

Richmond City Public Schools
n/a
Maggie L. Walker Gov School
n/a
Department Of Correctional Education
n/a
Medical College Of Va
n/a
Doe Sop Education Programs
n/a
Mcv Va Treatment Center
n/a
Metro Richmond Alternative Education
n/a

Richmond Schools

A M Davis Elementary School
PK-5, public
Bellwood Elementary School
PK-5, public
Bensley Elementary School
PK-5, public
Beulah Elementary School
PK-5, public
Crestwood Elementary School
PK-5, public
Falling Creek Elementary School
PK-5, public
Falling Creek Middle School
6-8, public
Greenfield Elementary School
PK-5, public
Hopkins Road Elementary School
PK-5, public
J G Hening Elementary School
PK-5, public
Manchester Middle School
6-8, public
Meadowbrook High School
9-12, public
Providence Middle School
6-8, public
Reams Road Elementary School
PK-5, public
Salem Church Elementary School
PK-5, public
Salem Church Middle School
6-8, public
Perrymont Middle School
6-8, public
Monacan High School
9-12, public
W W Gordon Elementary School
PK-5, public
Providence Elementary School
PK-5, public
Baker Elementary School
PK-5, public
Johnson Elementary School
PK-5, public
Brookland Middle School
6-8, public
Chamberlayne Elementary School
PK-5, public
Crestview Elementary School
PK-5, public

Posted on October 10, 2013 at 3:40 pm by Alex Glaser