the rennie review: February 2023

richmond DETACHED -JANUARY 2023

SALES TO LISTINGSRATIO 8% BUYERS'M ARKET

▶ MARKETSUMMARY Therewere330 detachedlistingsin Richm ond in January,1.5% below D ecem berand 23% higherthan January2022. January detached hom esalesdecreased by m onth-over-m onth,to 26,and were75% below January 2022. Thesales-to-listing ratio fordetached in Richm ond,at 8% ,reflected abuyers'm arket. Thedetachedm edian pricein Januarywas$2,004,000,a 13% increasefrom D ecem berand 9% below January 2022. Theaveragesold pricewas$2,083,146,7% abovelast m onth and down 9% toJanuary2022.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 9% VS 2022

▼ 9% VS 2022

▲ 23% VS 2022

▼ 75% VS 2022

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 39% 104 269

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

8% 26 330

-80% -75% 23%

$1,944,206 $1,780,000 11% 37 335

-29% -30% -1.5%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

7% 13%

$2,083,146 $2,004,000

$2,285,264 $2,200,000

-9% -9%

▶ 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

1.95

374

330

1.71

335

1.631.66

1.52

269

146

104

69

58

56

52

37

96

92

77

55

26

53

$2.20M

$2.13M $2.10M

$2.11M $2.13M $1.96M

$2.06M

$2.00M

$1.94M $2.11M

$1.85M

$1.78M

$1.75M

Jan-22

Dec-22

Jan-23

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

120

100

80

60

40

29%

14%

20

11%

6%

2%

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

1 0 n/a

1 0 n/a

7 2 29%

78 11 14%

70 8 11%

51 3 6%

117 2 2%

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