Hi there! –
Hope you’re keeping cool! We’re definitely in the dog days of summer. I’m currently in the phase of summer where I still love it, but more in the morning and evening than the middle of the day! Is that slowing down the market? Not much, it seems. Check out the market update I’ve included below, and let me know if you have questions I can answer for you or someone you know!
Today we’re talking about:
✔️ ♥️ What I’m loving this month! Txtur in Manchester
✔️ 📈 Market Update
✔️ Behind the Scenes with Cindy
♥️ What I’m loving this month!
If you know me, you know I love checking out new places – whether it’s a new restaurant, a fun shop, something to do, or anything like that, I’m always down to check it out, so be on the lookout for more of those here! This week, I finally got down to Txtur in Manchester.
Based in Roanoke, Txtur is not only a furniture store and showroom but a manufacturer as well, with all of their pieces being made right here in Virginia. I love this concept of more sustainability, quality craftsmanship, and USA made. Oh, and did I mention you can customize so many things when you order? Also important – their pieces are gorgeous!
If you go to their showroom, you’ll also be able to check out Stock Bistro, open for lunch and dinner, right there in the showroom. Nordic fare, great cocktails, and a really unique vibe. We took a little “field trip” the other day, and it was fun and delicious! ( I had the wedge salad and the Swedish meatball sub, and both were 10/10.) Check out my reel HERE on Instagram, or visit the Txtur website HERE.
📈 Market Update
The idea of the slow slow slow market of summer has changed over the past few years. Those cycles we could always count on like clockwork had already changed a bit, but the pandemic really wiped them off the map. That means that even though July is historically slow, now it’s definitely less so, and there are fewer extreme peaks and dips seasonally.
Soooo… that being said, here’s what’s going on in Metro Richmond real estate this summer.
Despite the fact that rates have been bouncing around 7% for months (!), we’re still seeing lots of sales and lots of activity. You may have heard me say that a balanced market is when we have 6 months of inventory, and it’s been a while since we’ve been there. As of June, we were at 1.6 months. With the exception of a few months last fall, this is the most inventory we’ve had since before the pandemic – that’s good news, especially if you’re buying. More inventory means more choice and less demand.
In many cases, we’re still seeing multiple offer situations, but generally, that is on homes that are “DONE.” (That means there are opportunities out there for buyers who don’t have to have that perfect, brand-new renovation!) What else does it mean? If you’re selling, the closer you can get your home to “DONE”, the more money you’re likely to net, and that’s good too.
Read more on the blog HERE.
Want more customized information to your neighborhood, home, or where you want to call home? Let me know, and I can give you a personalized market report with projections.
Do you have home questions, need contractor referrals, or are you (or someone you know) thinking of buying or selling a home in the Richmond area?
Reach out! I’d love to help. In the meantime, follow me on social!
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