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| FEBRUARY 2025 | |||
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| Units Sold 164 |
Active Inventory 376 |
Median Sale Price $382,500 |
Days On Market 22 |
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| Down -11% Vs. Year Ago |
Down -2% Vs. Year Ago |
Up 9% Vs. Year Ago |
Down -24% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in February, with 164 sold this month in Richmond City Real Estate versus 126 last month, an increase of 30%. This month's total units sold was lower than at this time last year, a decrease of 11% versus February 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 2%. The total number of active inventory this February was 376 compared to 385 in February 2024. This month's total of 376 is lower than the previous month's total supply of available inventory of 421, a decrease of 11%. |
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Median Sale Price
Last February, the median sale price for Richmond City Homes was $349,900. This February, the median sale price was $382,500, an increase of 9% or $32,600 compared to last year. The current median sold price is 6% higher than in January. 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 253 |
Current Contracts 236 |
Sold Vs. List Price 102.2% |
Months of Supply 2.3 |
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| Up 2% Vs. Year Ago |
Up 24% Vs. Year Ago |
Up 1% Vs. Year Ago |
Up 10% Vs. Year Ago |
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Months of Supply
In February, there was 2.3 months of supply available in Richmond City, compared to 2.1 in February 2024. That is an increase of 10% 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 253 homes newly listed for sale in Richmond City compared to 249 in February 2024, an increase of 2%. There were 236 current contracts pending sale this February compared to 191 a year ago. The number of current contracts is 24% higher than last February. |
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Sale Price to List Price Ratio
In February, the average sale price in Richmond City was 102.2% of the average list price, which is 1.0% higher than at this time last year. Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 29, a decrease of 24%. | |||
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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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