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| MARCH 2025 | |||
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| Units Sold 224 |
Active Inventory 363 |
Median Sale Price $402,250 |
Days On Market 28 |
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| Up 9% Vs. Year Ago |
Down -3% Vs. Year Ago |
Up 13% Vs. Year Ago |
Up 27% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in March, with 224 sold this month in Richmond City Real Estate. This month's total units sold was higher than at this time last year. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 10 units or 3%. The total number of active inventory this March was 363 compared to 373 in March 2024. This month's total of 363 is lower than the previous month's total supply of available inventory of 405, a decrease of 10%. |
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Median Sale Price
Last March, the median sale price for Richmond City Homes was $355,500. This March, the median sale price was $402,250, an increase of 13% or $46,750 compared to last year. The current median sold price is 6% higher than in February. 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 316 |
Current Contracts 275 |
Sold Vs. List Price 100.9% |
Months of Supply 1.6 |
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| Up 3% Vs. Year Ago |
Up 5% Vs. Year Ago |
Down -2.5% Vs. Year Ago |
Down -10% Vs. Year Ago |
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Months of Supply
In March, there was 1.6 months of supply available in Richmond City, compared to 1.8 in March 2024. That is a decrease of 11% 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 316 homes newly listed for sale in Richmond City compared to 307 in March 2024, an increase of 3%. There were 275 current contracts pending sale this March compared to 262 a year ago. The number of current contracts is 5% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Richmond City was 100.9% of the average list price, which is 2.6% lower than at this time last year. Days on Market
This month, the average number of days on market was 28, higher than the average last year, which was 22, an increase of 27%. | |||
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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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