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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