the rennie review - November 2022

richmond DETACHED -OCTOBER 202

SALES TO LISTINGSRATIO 13% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 1.4% VS 2021

▼ 3% VS 2021

▲ 0.2% VS 2021

▼ 50% VS 2021

Therewere459 detachedlistingsin Richm ond in O ctober,nochangetoSeptem berand 0.2% higherthan October2021. O ctoberdetached hom esalesincreased by 9% m onth-over-m onth,to 58,and were50% below O ctober 2021. Thesales-to-listing ratio fordetached in Richm ond,at 13% ,reflected abalanced m arket. Thedetachedm edian pricein Octoberwas$1,747,500,a 17% decreasefrom Septem berand 3% below O ctober 2021. Theaveragesold pricewas$1,981,248,16% below last m onth and down 1.4% toOctober2021.

THISMONTH No. $1,981,248 $1,747,500 13% 58 459

PREVIOUSYEAR

PREVIOUSMONTH

No. 25% 116 458

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

-1.4% -3% -50% -50% 0.2%

$2,352,673 $2,112,000 12% 53 459

9% 9% 0%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

-16% -17%

$2,010,126 $1,809,544

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

510

538

526

458

435

459

484

484

1.97

459

390

1.91

374

1.75

1.69

1.53

1.51

298

269

146

131

104

16

69

57

96

94

91

58

77

55

53

$2.20M $2.11M $2.13M

$2.09M $2.10M

$1.98M $2.13M $2.10M

$1.96M $2.11M

$1.85M

$1.81M

$1.75M

Oct-21

Sep-22

Oct-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

140

120

100

80

60

33%

33%

33%

27%

40

20

8%

8%

4%

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

3 1 33%

1 0 n/a

1 0 n/a

3 1 33%

12 4 33%

127 34 27%

91 7 8%

80 6 8%

141 5 4%

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