North Short Pump Housing Market Update | December 2024

Curious about what’s happening in the hyper-local real estate market of North Short Pump? In this December 2024 market update, I’ll take you through the top sales from November, break down key housing statistics, and share my insights for 2025, all tailored to our local neighborhoods like Wyndham, Twin Hickory, Grey Oaks, Cross Creek, and more.

📊 Market Highlights:

Median sales price year-to-date: $778,500 (+7.2% YoY)
Days on Market: 8 days (+33% YoY, still selling fast!)
List-to-Sale Price Ratio: 100% median
Inventory: 1.4 months (still a strong seller's market)

🏡 Top 3 Home Sales in November:

12261 Country Creek Way in Cross Creek – Sold for $1,393,188
12176 Morstead Court in Wyndham – Sold for $1,310,000
2021 Grey Oaks Park Lane in Grey Oaks – Sold for $1,160,000

🔮 2025 Market Predictions:

Mortgage rates expected to stay in the 6% range.
Home prices anticipated to appreciate (Metro Richmond average: +3%; North Short Pump: +5–10%).

💡 Tips for Buyers and Sellers:

Sellers:

If your home isn’t selling, it’s time to re-evaluate your strategy.
Start planning for spring 2025 now.
Decide your goals: maximize price or minimize prep work?

Buyers:

Get ahead of the wave of buyers in 2025.
Talk to a lender now to get your finances ready.
Remember, homeownership is a long-term wealth-building strategy.
Whether you’re buying, selling, or just curious about the market, I’m here to help! Reach out via the links in the description for a personalized consultation.

🎄 From my family to yours, wishing you a joyful holiday season and a successful year ahead!

Contact Chris Elliott, local Realtor and Wyndham resident, for all your real estate needs in North Short Pump and beyond.

Timestamps:

0:10 - Meet Chris Elliott, Local Realtor & Wyndham Resident
0:19 - What is North Short Pump? (Neighborhoods Overview)
0:35 - Top 3 Home Sales in November 2024
2:44 - November 2024 Housing Market Stats
4:50 - Predictions for 2025 Housing Market
6:02 - Tips for Sellers in 2025
8:04 - Tips for Buyers in 2025
9:56 - Closing: Questions, Comments & Holiday Wishes

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