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Focus On: Richmond City, Virginia
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact oneof Long & Foster’s knowledgeable and experienced sales associates.Information included in this report is based on data supplied by Terradatum, CVR, and its member Association(s) of REALTORS, who are notresponsible for its accuracy. Does not reflect all activity in the marketplace. “Information contained in this report is deemed reliable but notguaranteed, should be independently verified, and does not constitute an opinion of CVR or Long & Foster Real Estate, Inc.."
Including:
March, 2010
Last March, the median sale price in Richmond City was$230,875. This March, the median sale price was $240,000,an increase of 4% or $9,125 compared to last year. Thecurrent median sold price is 14% higher than in February.
Units SoldActive InventoryMedian Sale Price
Median sale price is the middle sale price in a given month. The samenumber of properties are above & below the median.
Down -32%Down -3%Up 4%Up 55%
Vs. Year AgoVs. Year AgoVs. Year AgoVs. Year Ago
Units SoldActive InventoryMedian Sale PriceDays On Market
76$240,00041434
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20
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100
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08 M
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10100,000
150,000
200,000
250,000
300,000
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08 M
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08 S
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08 J
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09 M
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09 J
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10
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100
120
140
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08 M
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08 J
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09 M
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10100
200
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700
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10
-510152025303540
Units Sold*
Sold DetachedSold AttachedSold Condo/ Coop
-100200300400500600700
Active Inventory*
Active DetachedActive AttachedActive Condo/ Coop
Mar-09$230,875Mar-10$240,000
200,000205,000210,000215,000220,000225,000230,000235,000240,000245,000
Median Sale Price
There was a decrease in total units sold in March, with 34 soldthis month in Richmond City versus 35 last month, a decreaseof 3%. This month's total units sold was lower than at thistime last year, a decrease of 32% versus March, 2009. Thecurrent month's total is lower than the twelve month averageof 46.Versus last year, the total number of homes available thismonth is lower by 13 units or 3%. The total number of activeinventory this March was 414 compared to 427 in March,2009. This month's total of 414 is higher than the previousmonth's total supply of available inventory of 349, an increaseof 19%.
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