richmond DETACHED -FEBRUARY 2023
SALES TO LISTINGSRATIO 17% BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 5% VS 2022
▼ 12% VS 2022
▼ 7% VS 2022
▼ 39% VS 2022
Therewere349 detachedlistingsin Richm ond in February,6% aboveJanuaryand 7% lowerthan February 2022. February detached hom esalesincreased by 127% m onth-over-m onth,to59,and were39% below February 2022. Thesales-to-listing ratio fordetached in Richm ond,at 17% ,reflected abalanced m arket. Thedetachedm edian pricein Februarywas$1,850,000, a8% decreasefrom Januaryand 12% below February 2022. Theaveragesold pricewas$2,130,909,2% abovelast m onth and down 5% toFebruary2022.
THISMONTH No. $2,130,909 $1,850,000 17% 59 349
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No. 8% 26 330
% Change
TOTALLISTINGS TOTALSALES
$2,239,516 $2,108,000 26% 96 374
-5% -12% -34% -39% -7%
115% 127% 6%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,083,146 $2,004,000
2% -8%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
510
538
526
459
435
484
484
2.05
404
459
1.83
1.79
349
374
1.69
335 330
1.59
1.52
146
69
96
58
56
52
37
92
59
26
77
55
53
$2.13M $2.10M
$2.11M $2.13M $1.96M
$2.11M
$2.06M
$2.00M $1.85M
$1.85M $1.94M
$1.78M
$1.75M
Feb-22
Jan-23
Feb-23
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
120
100
80
60
30%
40
30%
20%
16%
16%
20
6%
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
5 1 20%
1 0 n/a
0 2 n/a
10 3 30%
83 25 30%
74 12 16%
51 8 16%
125 8 6%
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