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  • Writer's pictureJesse Ledbetter

Henrico... we have a condo problem...

Below is a graph of all sales of new construction condominiums between 1500-1600sf in western Henrico by a single builder. No, that Gateway Square data is not an error.

New construction builders are offering higher concessions and builder incentives (10-15% is becoming common) to draw buyers as the market cools and cost of construction falls. What is clear here is that new construction condo plans will see an interesting spring-summer as the market picks up and as hundreds of new units are planned to come to market.

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