the rennie review - August 2023

richmond TOWNHOME-JULY 2023

SALES TO LISTINGSRATIO 41% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 9% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 12% VS 2022

▲ 17% VS 2022

▼ 27% VS 2022

▲ 51% VS 2022

Therewere167 townhom elistingsin Richm ond in July, 0.6% aboveJuneand 27% lowerthan July2022. Julytownhom esalesdecreased by4% m onth-over-m onth,to68,and were51% aboveJuly 2022. Thesales-to-listing ratio fortownhom esin Richm ond,at 41% ,reflected aselers'm arket. Thetownhom em edian pricein Julywas$1,170,250,a 4% decreasefrom Juneand 17% aboveJuly2022. Theaveragesold pricewas$1,154,545,7% below last m onth;theaveragePSF salepricewas$772,down 5% to lastm onth.

THISMONTH No. $772 $1,154,545 $1,170,250 41% 68 167

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$709 $1,028,079 $999,999 20% 45 229

9% 12% 17% 107% 51% -27%

$811 $1,245,432 $1,218,000 43% 71 166

-5% -7% -4% -5% -4% 0.6%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUL 202 ● JUL 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

231

229

192

220

217

182

166

167

161

160

157

148

140

82

72

55

68

48

47

70

71

36

45

46

39

16

$1.22M $1.17M

$1.10M $1.15M $1.07M $1.17M

$1.07M $1.15M

$1.05M $1.09M

$1000K $989K

$979K

RICHMOND

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

60

17

4+ bdrms

50

41

40

42

60%

3 bdrms

96

30

50%

50%

39% 37% 39%

20

7

2 bdrms

28

10

0

2 2

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

6 3 50%

5 3 60%

28 14 50%

57 22 39%

51 19 37%

18 7 39%

2 0 n/a

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