Two Virginia cities are on the list of cities in America with the oldest and newest existing housing stock.
Regardless of its status as newer or older, Hampton Roads Real Estate Photography is standing by to provide our clients with unbeatable real estate listing media for an incredible value.
Depending upon the buyer you ask, however, the charm of an older home or the sleek amenities of a new home may be more appealing. Though it is unlikely that there are serious market implications, this research from Homes.com took a look at the relative compositions of the housing for sale in major metropolitan areas. Two areas of Virginia popped up on opposite ends of the spectrum.
Modern Housing
According to the methodology employed by Homes.com on this study, “Modern Housing” is defined as housing that is built during or after 2016.
Within the data they looked at, Richmond, VA ranks 3/20 among major metro areas with the highest percentage of modern housing stocks. Making up 20.7% of Richmond’s for sale housing, only Nashville, TN and New Orleans, LA are ranked higher, and both by less than 1%.
Older Housing
Homes.com points to many reasons that buyers in a variety of markets may find older homes more attractive than newer ones (we, personally, think it is all down to the timeless appeal of a brick ranch). They define “Older Housing” in this data set as homes built before 2000.
In this study, our region’s own Virginia Beach ranks at 8/20 among the major cities whose housing markets were analyzed. With 58.5% of the housing available being older housing, there were several cities in both the Northeast and Midwest that had between 1-10% more older housing available.
