RE/MAX Accord's Market Report

Richmond, CA

Single-Family Homes

RE/MAX Accord | Outstanding Agents! Outstanding Results!



Richmond, CA

Thu Sep 21 2023
This week the median list price for Richmond, CA is $680,000 with the market action index hovering around 65. This is less than last month's market action index of 66. Inventory has increased to 67. 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.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Richmond, CA

Thu Sep 21 2023
This week the median list price for Richmond, CA is $680,000 with the market action index hovering around 65. This is less than last month's market action index of 66. Inventory has increased to 67. 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.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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

Never miss important changes in the Richmond market.
Median List Price $680,000
Median Price of New Listings $689,999
Per Square Foot $509
Average Days on Market 38
Median Days on Market 21
Price Decreased 27%
Price Increased 6%
Relisted 6%
Inventory 67
Median Rent
Market Action 65
Strong Seller's Market

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
$1,057,933 2,436 4,500 - 6,500 sqft 4 3 20 4 3 14
$779,000 1,370 4,500 - 6,500 sqft 3 2 68 6 4 7
$645,000 1,249 0 - 4,500 sqft 3 2 75 3 2 28
$499,000 929 0 - 4,500 sqft 2 1 81 4 4 28