The Commonwealth of Virginia is well known for many things in the United States. From the Blue Ridge Mountains to the Atlantic Ocean, its climate is mild and temperate and is in a great growing zone for many crops and is home to many equestrian farms.

There is a little bit of everything for everybody, from mountain views, lakeside cabins, and oceanside beaches to a competitive real estate market for investors.

Looking for real estate investment in the State’s five cities namely Richmond, Norfolk, Virginia Beach, Arlington and Roanoke can be a wonderful and profitable transaction, Opines Hirav Shah, Real Estate’s Most Trusted Strategist and Advisor.

5 Cities To Invest in Virginia Real Estate

Famed Real Estate Business Astrologer™ and Real Estate Guru Hirav Shah lists down 5 cities to invest in Virginia.

1.Richmond Real Estate

Richmond is the capital of Virginia and the 3rd-most populous metropolitan area in the state. Nicknamed the “River City”, Richmond has a thriving diverse economy driven by the financial, law, and government sectors.

The Richmond region has a well-deserved reputation as a great place to raise a family, start a business, and grow a career. The city was recently rated as one of the best small cities in North America.

Meanwhile, the Richmond real estate market is surging into 2021’s eighth month with momentum. Real estate investors looking for slow and predictable growth just might find Richmond the perfect place to own rental property, with both sales and price growth of homes in Richmond forecast to grow by about 6% by 2021 end.

The city continues to be a seller’s market, with nice property at a decent price point generating multiple offers.

2. Roanoke Real Estate

Roanoke is the largest metro area in Southwest Virginia and is the commercial and cultural center of the southwest part of the state and of Southern West Virginia.

Nicknamed the “Capital of the Blue Ridge,” Roanoke’s real estate market can be described as “Inventory low in Roanoke Valley; sellers rushing to list homes”.

The median list price of homes in Roanoke has risen by 6% year-over-year, despite the current tumultuous times.

3. Norfolk Real Estate

Norfolk is considered to be the historic, urban, financial, and cultural center of the region.

Meanwhile, the real estate market here is really hot and competitive.

There has been a strong demand for housing, single family housing in particular, coupled with a limited supply of available housing stock and historically low interest rates which could be motivating buyers to do what is necessary to secure housing. Lending activity was up. The growth in numbers seen in 2020 continues into 2021.

4. Arlington Real Estate

Arlington is the sixth-largest county in Virginia by population; if it were incorporated as a city, Arlington would be the fourth most populous city in the state.

In July 2021, Arlington home prices were up 6.8% compared to last year, selling for a median price of $703K.

If you are wondering how fast is real estate selling in Arlington, VA?

Then, the average days on the market is 6 days for single family homes and10 days for condos. And that is FAST!

And this means, real estate market in Arlington is really competitive.

5. Virginia Beach Real Estate

Originally settled back in 1607, Virginia Beach is located in the southeastern corner of Virginia and still has a suburban small-town feel, even though the city is the most populated in the state.

Over 50% of the residents are millennials and baby boomers, making the market perfect for rental property investors. The quality of life is one of the best in the country, and with only about six weeks of inventory currently on the market, housing in Virginia Beach is in short supply.

Homes in Virginia Beach are selling faster, often with multiple offers above the listing price. Although the number of listings continues to decline, sales transactions are rising, showing how strong the demand for real estate in Virginia Beach is.

Activity in the real estate market, relative affordability, and quality of life are three of the reasons why Virginia Beach is ranked as one of the best places to rent in America.

Final Thoughts for Virginia Real Estate

Economy of these five cities has boosted nearly every industry over the last decade, and the real estate sector is no exception, Opines The Most Influential Strategist of the real estate world, Hirav Shah.

Richmond, Norfolk, Virginia Beach, Arlington and Roanoke are all set to almost reach a balance that favors everyone: buyers, sellers, and investors, Concludes Hirav Shah.