richmond DETACHED -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 11% BUYERS'M ARKET
▶ MARKETSUMMARY Therewere464 detachedlistingsin Richm ond in O ctober,4% below Septem berand 1.1% higherthan October2022. O ctoberdetached hom esalesdecreased by 30% m onth-over-m onth,to 51,and were12% below O ctober 2022. Thesales-to-listing ratio fordetached in Richm ond,at 11% ,reflected abuyers'm arket. Thedetachedm edian pricein Octoberwas$2,245,000,a 21% increasefrom Septem berand 28% aboveO ctober 2022. Theaveragesold pricewas$2,428,898,18% abovelast m onth and up 23% toOctober2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 23% VS 2022
▲ 28% VS 2022
▲ 1.1% VS 2022
▼ 12% VS 2022
THISMONTH No. $2,428,898 $2,245,000 11% 51 464
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
$1,981,248 $1,747,500 13% 58 459
23% 28% -13% -12% 1.1%
$2,054,724 $1,853,000 15% 73 481
18% 21% -28% -30% -4%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
458
464
459
426
481
404
459
2.16
349
378
343
340
335
330
1.74
1.691.71
1.52
1.48
109
93
92
73
52
37
92
58
26
51
64
59
57
$2.25M
$2.06M
$2.00M
$2.00M $2.02M $2.06M $2.01M $2.10M
$1.95M $1.85M
$1.85M
$1.78M
$1.75M
22-Oct
23-Sep 23-Oct
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
160
140
120
100
80
50%
60
40
13%
13%
20
9%
8%
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
1 0 n/a
1 0 n/a
10 5 50%
119 15 13%
82 11 13%
98 9 9%
146 11 8%
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