the rennie review | September 2023

richmond TOWNHOME-AUGUST 2023

SALES TO LISTINGSRATIO 34% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 8% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 7% VS 2022

▲ 14% VS 2022

▼ 20% VS 2022

▲ 28% VS 2022

Therewere177 townhom elistingsin Richm ond in August,6% aboveJulyand 20% lowerthan August2022. Augusttownhom esalesdecreased by12% m onth-over-m onth,to60,and were28% aboveAugust 2022. Thesales-to-listing ratio fortownhom esin Richm ond,at 34% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$1,130,000,a 3% decreasefrom Julyand 14% aboveAugust2022. Theaveragesold pricewas$1,119,329,3% below last m onth;theaveragePSF salepricewas$792,up 3% to lastm onth.

THISMONTH No. $792 $1,119,329 $1,130,000 34% 60 177

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$731 $1,042,344 $989,000 21% 47 220

14% 59% 28% -20%

$772 $1,154,545 $1,170,250 41% 68 167

-17% -12% 6%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

3% -3% -3%

8% 7%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

231

220

192

217

182

166

177

167

161

160

157

148

140

82

72

68

55

48

46

60

70

71

36

47

39

16

$1.22M

$1.10M $1.15M $1.07M $1.17M

$1.17M $1.13M

$1.07M $1.15M

$1.05M $1.09M

$989K

$979K

RICHMOND

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

80

13

70

4+ bdrms

40

60

50

34

57% 59%

3 bdrms

40

110

50%

30

33%

27%

12

20

21%

2 bdrms

26

10

0

1 1

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

4 2 50%

7 4 57%

27 16 59%

74 20 27%

40 13 33%

24 5 21%

1 0 n/a

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