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| AUGUST 2025 | |||
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| Units Sold 227 |
Active Inventory 523 |
Median Sale Price $415,000 |
Days On Market 22 |
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| Up 17% Vs. Year Ago |
Up 8% Vs. Year Ago |
Up 11% Vs. Year Ago |
Up 16% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in August, with 227 sold this month in Richmond City Real Estate versus 235 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 17% versus August 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 38 units or 8%. The total number of active inventory this August was 523 compared to 485 in August 2024. This month's total of 523 is higher than the previous month's total supply of available inventory of 497, an increase of 5%. |
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Median Sale Price
Last August, the median sale price for Richmond City Homes was $375,502. This August, the median sale price was $415,000, an increase of 11% or $39,498 compared to last year. The current median sold price is 2% lower than in July. 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 171 |
Sold Vs. List Price 100.9% |
Months of Supply 2.3 |
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| Down -16% Vs. Year Ago |
Down -23% Vs. Year Ago |
Down -1.3% Vs. Year Ago |
Down -8% Vs. Year Ago |
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Months of Supply
In August, there was 2.3 months of supply available in Richmond City, compared to 2.5 in August 2024. That is a decrease of 8% 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 313 in August 2024, a decrease of 16%. There were 171 current contracts pending sale this August compared to 223 a year ago. The number of current contracts is 23% lower than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Richmond City was 100.9% of the average list price, which is 1.3% lower than at this time last year. Days on Market
This month, the average number of days on market was 22, higher than the average last year, which was 19, an increase of 16%. | |||
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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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