Civil unrest, statue removal, and home values.
Updated: Feb 3, 2021
In addition to the Corona Virus, the City of Richmond also faced civil unrest in the summer of 2020. In the midst of this, announcements were made to remove monuments to the "Lost Cause." Some citizens expressed concerns about the effect on property values others spoke out against the racist history behind the correction of those monuments.
Now with nearly six months of data, we can begin to track the effects of these decisions. For sake of context, 20 years of homes sales of the one block north and south of Monument Avenue between Stuart Circle and Roseneath Road have been included. To be clear, the second half of 2020 only represents the extreme right-hand side of the graph. However, thus far, this period has seen a return to historic high median home prices.