Available via Online Auction at www.FRE.com/499D6. Market Overview: Richmond, Virginia, is a city known for its rich history, diverse culture, and thriving arts scene. As the capital of Virginia, Richmond combines a deep sense of heritage with a modern, progressive outlook, making it an appealing destination for residents and visitors alike. Demographics and Population Growth: As of 2024, Richmond has a population of approximately 230,000 residents, with a median age of around 34 years, highlighting its youthful and diverse demographic. Over the past decade, the city has experienced steady population growth of about 3%, driven by its appealing lifestyle, cultural offerings, and economic opportunities. Richmond's welcoming community spirit, bolstered by its numerous festivals, events, and a strong sense of local pride, continues to attract newcomers, enhancing its livability. Economic Landscape: Richmond's economy is diverse and robust, with key sectors including finance, healthcare, education, and technology. In the past year, job growth in the area has reached approximately 4%, fueled by major employers such as the University of Richmond, VCU Health, and several financial institutions. The region's GDP is estimated to be around $12 billion, reflecting a solid economic foundation. Wage growth in Richmond has also been favorable, with average annual salaries increasing by about 3% over the last year. The median household income stands at approximately $60,000, with higher earnings in sectors like finance, healthcare, and technology, attracting skilled professionals to the area. Real Estate and Market Trends: Richmond's real estate market offers a range of housing options, with median home prices around $325,000. This remains competitive compared to many other urban areas on the East Coast, making homeownership accessible for many residents. The cost of living in Richmond is approximately 5% lower than the national average, further enhancing its appeal. Recent trends indicate a steady demand for housing, with a 7% increase in property sales driven by the city's growth and ongoing community development initiatives. As Richmond continues to evolve, property values are expected to appreciate, reflecting the ongoing demand for homes in this dynamic and culturally rich community