richmond DETACHED -AUGUST 2023
SALES TO LISTINGSRATIO 14% BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 20% VS 2022
▲ 0.5% VS 2022
▼ 5% VS 2022
▲ 14% VS 2022
Therewere459 detachedlistingsin Richm ond in August, 0.2% aboveJulyand 5% lowerthan August2022. Augustdetached hom esalesincreased by12% m onth-over-m onth,to64,and were14% aboveAugust 2022. Thesales-to-listing ratio fordetached in Richm ond,at 14% ,reflected abalanced m arket.
THISMONTH No. $2,536,852 $1,950,000 14% 64 459
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
$2,120,781 $1,940,000 12% 56 484
20% 0.5% 21% 14% -5%
$2,384,325 $2,100,000 12% 57 458
12% 12% 0.2%
Thedetachedm edian pricein Augustwas$1,950,000,a 7% decreasefrom Julyand 0.5% aboveAugust2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
Theaveragesold pricewas$2,536,852,6% abovelast m onth and up 20% toAugust2022.
6% -7%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
459
458
484
459
404
459
426
1.96
349
378
1.79
343
340
1.72
1.73
335
330
1.62
1.45
109
93
93
58
52
37
92
64
56
26
59
57
53
$2.11M
$2.06M
$2.00M
$2.02M $2.06M $2.01M $2.10M $1.95M
$1.94M
$1.85M $2.00M
$1.78M
$1.75M
22-Aug
23-Jul 23-Aug
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
160
100%+
140
120
100
80
50%
40%
60
40
21%
16%
20
8%
7%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+
S-L RATIO SALES INVENTORY
2 3 150%
2 1 50%
1 0 n/a
3 0 n/a
10 4 40%
121 25 21%
80 13 16%
87 6 7%
153 12 8%
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