Category: Real Estate Market

As we navigate the new year, our team at Hutchison & Co. is dedicated to keeping you educated and informed on the latest trends in the coastal Virginia real estate market. Understanding the dynamics of our local market is crucial for both buyers and sellers, and this latest edition of our real estate market update delivers all the need-to-know information for everyone buying, selling, or investing in the market in the coming months. Market Overview Before we dive in, let’s look at a quick overview of the statistics and key information for Virginia’s real estate market as of the beginning

With exposure to the Hampton Roads metro area, Washington D.C. metro area, Shenandoah Valley, and Richmond, the Virginia real estate market has been in the post-pandemic phase for over three years with low inventories and increasing home values. However, the market has significantly transformed over the last few months. In this article, we analyze the most critical factors that are influencing the Virginia real estate market and what buyers and sellers can expect in the coming months this fall. Rising Rates In the first week of August, the average 30-year fixed loan rate increased from 6.81% to 6.9%. This rate

As the warmth of summer gracefully fades this year, the coastal Virginia real estate market presents dynamic trends and compelling opportunities. A complex interplay of factors such as supply, demand, and pricing trends is shaping the landscape. Despite a recent dip in the median home sales price statewide in March, the real estate market in coastal Virginia remains resilient. The low inventory has kept the market highly competitive, with properties selling swiftly and often above the listed price. In this article, we will journey through coastal Virginia’s bustling real estate landscapes, exploring the current trends, housing supply, and overview of