Mon Oct 03 2022
This week the median list price for Richmond, VA is $362,450 with the market action index hovering around 68. This is less than last month's market action index of 76. Inventory has increased to 376.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$362,450|
|Median Price of New Listings||$317,900|
|Per Square Foot||$210|
|Average Days on Market||47|
|Median Days on Market||21|
|Strong Seller's Market|
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$688,995||2,675||6,500 - 8,000 sqft||4||3||73||14||13||35|
|$399,950||1,922||6,500 - 8,000 sqft||3||2.5||63||21||22||21|
|$318,450||1,647||8,000 - 10,000 sqft||3||2.5||57||28||23||28|
|$229,910||1,224||8,000 - 10,000 sqft||3||1.5||74||32||36||21|