the rennie review - September 2022

richmond DETACHED -AUGUST 202

SALES TO LISTINGSRATIO 12% BUYERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 1.6% VS 2021

▼ 1.3% VS 2021

▼ 12% VS 2021

▼ 50% VS 2021

Therewere484 detachedlistingsin Richm ond in August, 5% below Julyand 12% lowerthan August2021. Augustdetached hom esalesincreased by4% m onth-over-m onth,to57,and were50% below August 2021. Thesales-to-listing ratio fordetached in Richm ond,at 12% ,reflected abuyers'm arket.

THISMONTH No. $2,125,680 $1,960,000 12% 57 484

PREVIOUSYEAR

PREVIOUSMONTH

No. 21% 113 551

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

-1.6% -1.3% -43% -50% -12%

$2,108,053 $1,850,000 11% 55 510

0.8% 6% 9% 4% -5%

Thedetachedm edian pricein Augustwas$1,960,000,a 6% increasefrom Julyand 1.3% below August2021.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$2,125,680,0.8% abovelast m onth and down 1.6% toAugust2021.

$2,160,216 $1,985,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

526

551

510

538

534

484

435

2.10

484

458

390

1.98

374

1.85

1.58

1.57

298

269

1.45

146

131

104

13

69

16

106

97

94

91

57

77

55

$2.20M $2.11M $2.13M

$2.09M $2.10M

$1.99M

$1.98M $2.13M $2.10M

$1.85M $1.96M

$1.76M $1.81M

Aug.-21

Jul.-22

Aug.-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

160

140

100%

120

100

80

60

40

23%

17%

15%

20

9%

5%

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

2 0 n/a

2 0 n/a

2 2 100%

13 3 23%

144 24 17%

87 13 15%

87 8 9%

147 7 5%

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