RE/MAX Accord's Market Report
Richmond, CA
Single-Family Homes
RE/MAX Accord | Outstanding Agents! Outstanding Results!
Richmond, CA
Thu Feb 21 2019
This week the median list price for Richmond, CA is $529,000 with the market action index hovering around 48. This is about the same as last month's market action index of 48. Inventory has held steady at or around 89.
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
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
| Median List Price | $529,000 | |
| Per Square Foot | $420 | |
| Days on Market | 66 | |
| Price Decreased | 39% | |
| Price Increased | 2% | |
| Relisted | 17% | |
| Inventory | 89 | |
| Median House Rent | $2,550 | |
| Most Expensive | $2,595,000 | |
| Least Expensive | $260,000 | |
| Market Action Index Strong Seller's Market | 48 |
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $809,000 | 2,382 | 4,500 - 6,500 sqft | 3 | 3 | 38 | 4 | 3 | 91 |
| $579,000 | 1,413 | 4,500 - 6,500 sqft | 3 | 2 | 58 | 6 | 6 | 53 |
| $470,000 | 1,204 | 4,500 - 6,500 sqft | 3 | 2 | 70 | 3 | 5 | 76 |
| $399,000 | 836 | 0 - 4,500 sqft | 2 | 2 | 76 | 4 | 6 | 47 |