richmond DETACHED -MARCH 2023
SALES TO LISTINGSRATIO 28% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 1.5% VS 2022
▼ 5% VS 2022
▼ 22% VS 2022
▼ 36% VS 2022
Therewere340 detachedlistingsin Richm ond in M arch, 3% below Februaryand 22% lowerthan M arch 2022. M arch detached hom esalesincreased by 59% m onth-over-m onth,to 94,and were36% below M arch 2022. Thesales-to-listing ratio fordetached in Richm ond,at 28% ,reflected aselers'm arket.
THISMONTH No. $2,289,665 $2,022,500 28% 94 340
PREVIOUSYEAR
PREVIOUSMONTH
No. 34% 146 435
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
-1.5% -5% -18% -36% -22%
$2,130,909 $1,850,000 17% 59 349
64% 59% -3%
Thedetachedm edian pricein M arch was$2,022,500,a 9% increasefrom Februaryand 5% below M arch 2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
Theaveragesold pricewas$2,289,665,7% abovelast m onth and down 1.5% toM arch 2022.
7% 9%
$2,324,449 $2,129,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
510
538
526
459
484
484
404
435
1.84
459
1.741.79 1.79 1.59
349
1.63
340
335
330
146
69
94
58
56
52
37
26
92
77
55
53
59
$2.13M
$2.13M $2.10M
$2.11M
$2.06M
$2.02M
$2.00M
$1.96M
$1.85M $1.94M
$1.85M
$1.78M
$1.75M
22-Mar
23-Feb
23-Mar
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
120
100
80
51%
60
36%
40
26%
24%
14%
20
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
7 0 n/a
1 0 n/a
0 3 n/a
11 4 36%
79 40 51%
71 17 24%
46 12 26%
125 18 14%
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