RE/MAX Accord's Market Report
Richmond, CA
Single-Family Homes
RE/MAX Accord | Outstanding Agents! Outstanding Results!
Richmond, CA
Fri Dec 14 2018
This week the median list price for Richmond, CA is $525,000 with the market action index hovering around 48. This is less than last month's market action index of 50. Inventory has held steady at or around 121.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Strong Seller's Market
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $525,000 | |
| Per Square Foot | $400 | |
| Days on Market | 60 | |
| Price Decreased | 36% | |
| Price Increased | 9% | |
| Relisted | 19% | |
| Inventory | 121 | |
| Median House Rent | $2,448 | |
| Most Expensive | $2,595,000 | |
| Least Expensive | $335,000 | |
|
Market Action Index
Strong Seller's Market |
48 |
The market appears to be hovering around this plateau. Look for a persistent change 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 |
|---|---|---|---|---|---|---|---|---|
| $799,000 | 2,219 | 4,500 - 6,500 sqft | 3 | 3 | 39 | 2 | 2 | 83 |
| $581,475 | 1,487 | 4,500 - 6,500 sqft | 3 | 2 | 67 | 7 | 8 | 45 |
| $499,444 | 1,319 | 4,500 - 6,500 sqft | 3 | 2 | 63 | 3 | 1 | 64 |
| $399,000 | 1,012 | 0 - 4,500 sqft | 3 | 2 | 76 | 5 | 3 | 47 |