Richmond's most affordable home style is also the most available
Add Axios as your preferred source to
see more of our stories on Google.
In you're in the market for a new home, consider a rancher.
Why it matters: There were more of them available for sale in metro Richmond this spring than any other style of house.
- Plus, the median list price for a ranch-style house is — by far — the lowest of any house style, according to new data from Realtor.com shared with Axios.
By the numbers: There were 1,918 ranchers listed for sale in RVA as of May — 40% of all listings — with a median asking price of $350,000.
- Comparatively, English-inspired (think Tudor and Victorian) and Craftsman-style houses commanded the highest median list price in RVA as of May, at roughly $800,000 and $590,000, respectively.
- And there were far fewer of those (1% of listings were for English-inspired and 19% for Craftsman).
Yes, but: Size matters. Ranchers, at least the ones listed in metro Richmond this year, tend to be the smaller than other home styles.
- The ones listed as of May were just over 1,600 square feet on average, nearly half the size of those pricer English-inspired ones.
By price per square foot, colonial or traditional-style homes have the lowest price tag ($227 on average in RVA), and there were many of those listed for sale as of May (1,619).
- But, at nearly $500,000, the average price tag for a colonial comes in significantly higher than ranchers.
Reality check: Home prices are up everywhere for every kind of home.
- The median sales price for single-family homes in metro Richmond was up 2.5% year-over-year as of June, according to data from Richmond Association of Realtors.
- The median sales price for such homes in Richmond city, where those Craftsman and English-inspired homes are concentrated, was up 9.1% YOY.