Two Virginia cities make top 10 list of places to buy

buy or sell?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.

In Richmond:

  • 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.
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5 Responses to Two Virginia cities make top 10 list of places to buy

  1. Jim Duncan says:

    Does anyone else find it ironic that Realtors have discussed Zillow’s accuracy for years, but now we seem to be affirming their perceived accuracy? :)

  2. mary dykstra says:

    I find it amusing too, Jim. Doesn’t exactly clarify which side of our mouth we are speaking out of it, does it?

  3. linda says:

    What about a recent statement that Charlottesville and Richmond are among the most overvalued markers in the region?

  4. I’m surprised northern VA didn’t make this list. Fed. Gov. IT contracting is very strong in this region and we’re still experiencing growth.

  5. I agree with Jim. Quite ironic, indeed!

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