Single-Family Homes
Mon May 06 2024
This week the median list price for Richmond, VA is $399,950 with the market action index hovering around 69. This is about the same as last month's market action index of 69. Inventory has increased to 278.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Median List Price | $399,950 | |
Median Price of New Listings | $399,925 | |
Per Square Foot | $231 | |
Average Days on Market | 66 | |
Median Days on Market | 21 | |
Price Decreased | 29% | |
Price Increased | 8% | |
Relisted | 12% | |
Inventory | 278 | |
Median Rent | ||
Market Action | 69 | |
Strong Seller's Market |
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate 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 |
---|---|---|---|---|---|---|---|---|
$775,000 | 2,860 | 0.25 - 0.5 acre | 4 | 3 | 37 | 19 | 20 | 21 |
$450,000 | 2,010 | 8,000 - 10,000 sqft | 4 | 2.5 | 32 | 21 | 16 | 35 |
$349,650 | 1,672 | 8,000 - 10,000 sqft | 3 | 2.5 | 45 | 17 | 21 | 14 |
$257,450 | 1,124 | 8,000 - 10,000 sqft | 3 | 1.5 | 76 | 25 | 21 | 21 |