Wed Sep 22 2021
This week the median list price for Richmond, VA is $309,975 with the market action index hovering around 81. This is less than last month's market action index of 85. Inventory has increased to 386.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$309,975|
|Median Price of New Listings||$314,975|
|Per Square Foot||$192|
|Average Days on Market||41|
|Median Days on Market||21|
|Strong Seller's Market|
The market has been on a downward trend in the last few weeks and this week, while essentially flat, doesn’t break us out of that cycle.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$522,500||2,533||6,500 - 8,000 sqft||4||3||71||38||22||24|
|$350,000||1,908||6,500 - 8,000 sqft||4||2||57||26||21||21|
|$275,000||1,452||8,000 - 10,000 sqft||3||2||54||24||23||21|
|$199,000||1,120||8,000 - 10,000 sqft||3||1||71||38||30||21|