richmond CONDO -AUGUST 2023
SALES TO LISTINGSRATIO 43% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 8% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 4% VS 2022
▲ 2% VS 2022
▼ 11% VS 2022
▲ 59% VS 2022
Therewere452 condolistingsin Richm ond in August, 6% below Julyand 11% lowerthan August2022.
Augustcondosalesincreased by19% m onth-over-m onth, to194,and were59% aboveAugust2022.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. 24% 122 509
% Change
No. 34% 163 482
% Change
Thesales-to-listingratio forcondosin Richm ond,at43%, reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
43% 194 452
79% 59% -11%
0.8% 6% 3% 27% 19% -6%
Thecondom edian pricein Augustwas$698,400,a3% increasefrom Julyand 2% aboveAugust2022. Theaveragesold pricewas$748,021,6% abovelast m onth;theaveragePSF salepricewas$847,up 0.8% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$847 $748,021 $698,400
$841 $707,864 $680,000
$785 $720,507 $682,500
8% 4% 2%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 202 ● AUG 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
499
482
509
478
474
521
451
438
452
454
427
380
369
193 193
181
194
126
172
163
122
120
18
109
96
81
$683K
$675K $683K $700K $700K $680K $698K
$635K $660K $650K $658K $645K $652K
RICHMOND
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
140
1
120
4+ bdrms
6
100
66%
20
80
3 bdrms
54%
67
49%
46%
60
40
108
23% 21%
2 bdrms
14%
252
20
8%
0
65
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
24 13 54%
73 48 66%
133 65 49%
98 45 46%
57 13 23%
29 6 21%
24 2 8%
14 2 14%
127
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