The Poore Team

Richmond, VA 23223

Single-Family Homes

Compass


Richmond, VA 23223

Sat Dec 21 2024
This week the median list price for Richmond, VA 23223 is $369,974 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has increased to 78. Click here to stay informed with the Richmond market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Richmond, VA 23223

Sat Dec 21 2024
This week the median list price for Richmond, VA 23223 is $369,974 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has increased to 78. Click here to stay informed with the Richmond market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Richmond market.
Median List Price $369,974
Median Price of New Listings $359,000
Per Square Foot $237
Average Days on Market 61
Median Days on Market 49
Price Decreased 45%
Price Increased 6%
Relisted 14%
Inventory 78
Median Rent
Market Action 42
Slight Seller's Advantage

We continue to see prices in this zip code bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$589,000 2,348 0 - 4,500 sqft 4 3 99 2 1 70
$437,900 1,906 0 - 4,500 sqft 3 2.5 31 2 1 70
$329,724 1,460 8,000 - 10,000 sqft 3 2 50 5 6 35
$232,450 912 6,500 - 8,000 sqft 3 1 78 2 2 49