Richmond offers enticing home prices

Potential property buyers looking to purchase a house may want to consider checking out the homes for sale in Richmond. This Virginia metropolitan area offers a welcoming atmosphere and affordable home prices in a number of communities.

According to ALTOS Research, the median single family home price in Richmond by August 10, 2012 was $160,510. This is a slight decrease from the prices seen on July 1, 2012, when the median was about $161,000. For potential homebuyers looking at the purchase cost differently, the median price paid per square foot as of August 10, 2012 was $92.

Overall, the Richmond real estate market has seen no major spikes in median sales price during the course of 2012. This may result from the relatively slow to sell real estate market. The average property in Richmond by August 10, 2012 was on the market for about 165 days. Consequently, a home seller could potentially offer a property at a decreased closing cost if a buyer is a strategic negotiator.