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| JANUARY 2025 | |||
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| Units Sold 126 |
Active Inventory 403 |
Median Sale Price $359,500 |
Days On Market 32 |
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| Down -4% Vs. Year Ago |
Up 13% Vs. Year Ago |
Up 7% Vs. Year Ago |
Up 28% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in January, with 126 sold this month in Richmond City Real Estate. This month's total units sold was lower than at this time last year. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 45 units or 13%. The total number of active inventory this January was 403 compared to 358 in January 2024. This month's total of 403 is higher than the previous month's total supply of available inventory of 395, an increase of 2%. |
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Median Sale Price
Last January, the median sale price for Richmond City Homes was $335,000. This January, the median sale price was $359,500, an increase of 7% or $24,500 compared to last year. The current median sold price is 11% lower than in December. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 264 |
Current Contracts 173 |
Sold Vs. List Price 100.7% |
Months of Supply 3.2 |
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| Down -1% Vs. Year Ago |
Down -16% Vs. Year Ago |
Up 0.8% Vs. Year Ago |
Up 17% Vs. Year Ago |
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Months of Supply
In January, there was 3.2 months of supply available in Richmond City, compared to 2.7 in January 2024. That is an increase of 17% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
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New Listings & Current Contracts
This month there were 264 homes newly listed for sale in Richmond City compared to 266 in January 2024, a decrease of 1%. There were 173 current contracts pending sale this January compared to 205 a year ago. The number of current contracts is 16% lower than last January. |
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Sale Price to List Price Ratio
In January, the average sale price in Richmond City was 100.7% of the average list price, which is 0.8% higher than at this time last year. Days on Market
This month, the average number of days on market was 32, higher than the average last year, which was 25, an increase of 28%. | |||
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| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by CVRMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CVRMLS or Long & Foster Real Estate, Inc. |
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