richmond CONDO -MAY 2023
SALES TO LISTINGSRATIO 45% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 1.0% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 0.5% VS 2022
▼ 0.7% VS 2022
▼ 17% VS 2022
▼ 0.5% VS 2022
Therewere427 condolistingsin Richm ond in M ay,11% below Apriland 17% lowerthan M ay2022.
M aycondosalesincreased by12% m onth-over-m onth,to 193,and were0.5% below M ay2022.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. 38% 194 513
% Change
No. 36% 173 478
% Change
Thesales-to-listingratio forcondosin Richm ond,at45%, reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
45% 193 427
1% -0.5% -0.7% 20% -0.5% -17%
6% 1.6% 3% 25% 12% -11%
Thecondom edian pricein M aywas$700,000,a3% increasefrom Apriland 0.7% below M ay2022. Theaveragesold pricewas$720,115,1.6% abovelast m onth;theaveragePSF salepricewas$842,up 6% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$842 $720,115 $700,000
$797 $708,989 $680,000
$834 $723,656 $704,900
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
521
499
560
513
548
478
451
509
438
427
454
380
369
181
176
194
193
126
122
173
122
120
18
109
96
81
$705K
$656K $633K $683K $635K $660K $650K $658K $645K
$652K $675K $680K $700K
RICHMOND
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
120
1
4+ bdrms
6
100
77%
80
16
3 bdrms
56%
76
60
50%
37%
40
111
24%
2 bdrms
16%
238
20
7%
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
19 7 37%
73 56 77%
122 68 56%
101 50 50%
59 4 7%
21 5 24%
19 3 16%
13 0 n/a
107
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