Aug 11, 2009
Two Virginia cities make top 10 list of places to buy
11 Aug 2009
Posted by VAR
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.