richmond DETACHED -JULY 2023
SALES TO LISTINGSRATIO 12% BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 13% VS 2022
▲ 14% VS 2022
▼ 10% VS 2022
▲ 4% VS 2022
Therewere458 detachedlistingsin Richm ond in July,8% aboveJuneand 10% lowerthan July2022.
July detached hom esalesdecreased by 39% m onth-over-m onth,to57,and were4% aboveJuly2022.
THISMONTH No. $2,384,325 $2,100,000 12% 57 458
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio fordetached in Richm ond,at 12% ,reflected abalanced m arket.
TOTALLISTINGS TOTALSALES
$2,108,053 $1,850,000 11% 55 510
13% 14% 15% 4% -10%
$2,138,241 $2,010,000 22% 94 426
12% 4% -44% -39% 8%
Thedetachedm edian pricein Julywas$2,100,000,a4% increasefrom Juneand 14% aboveJuly2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
Theaveragesold pricewas$2,384,325,12% abovelast m onth and up 13% toJuly2022.
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
510
459
426
458
484
404
459
1.85
1.79
349
1.74
1.72
378
1.65
340 343
1.58
335
330
109
94
93
58
56
52
37
92
26
57
55
59
53
$2.11M
$2.06M
$2.00M
$2.00M $2.02M $2.06M $2.01M $2.10M $1.85M
$1.85M $1.94M
$1.78M
$1.75M
22-Jul
23-Jun 23-Jul
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
150
100
50
23%
20%
10%
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
5 0 n/a
2 0 n/a
2 0 n/a
1 0 n/a
9 0 n/a
117 23 20%
74 17 23%
77 8 10%
171 9 5%
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