Good Morning America cited data from Zillow this morning which heralded Virginia Beach as the number one place, and Richmond as the number seven place, to buy a home right now.
When buying a home, according to Zillow, buyers should “look for communities with a strong job market and stable housing values. Some common threads: cities with military bases, state capitals and college towns all fare well because they are more ‘recession proof.’”
Here’s what Zillow is seeing…
In Virginia Beach:
- Median home value: $223,800, down 1 percent from a year ago.
- Property values are up 7 percent compared to five years ago.
- Houses cost an average of $139 per square foot.
- Buyers are paying 2 percent less than the listing price.
- Median Home Value: $ 207,000, down 7 percent from a year ago.
- Property values are up 5 percent compared to five years ago.
- Houses cost an average of $119 per square foot.
- Buyers are paying 3 percent less than listing price.