Richmond City VA Final PDF
Content
Focus On: Richmond City, Virginia
Including:
March, 2010
Days On Market
76
140 120 100 80 60 40 20 ‐ J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10 J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Units Sold
34
100 80 60 40 20 ‐ J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Active Inventory
414
700 600 500 400 300 200 100 J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Median Sale Price
$240,000
300,000 250,000 200,000 150,000 100,000
Do wn -32%
Vs. Ye ar A go
Do wn -3%
Vs. Ye ar A go
Up 4%
Vs. Ye ar A go
Up 55%
Vs. Ye ar A go
Units Sold*
40 35 30 25 20 15 10 5 Sold Detached Sold Attached Sold Condo/ Coop
Units Sold
The re was a de c re ase in total units sold in Marc h, with 34 sold this m onth in Ric hm ond City ve rsus 35 last m onth, a de c re ase of 3%. This m onth's total units sold was lowe r than at this tim e last ye ar, a de c re ase of 32% ve rsus Marc h, 2009. The c urre nt m onth's total is lowe r than the twe lve m onth ave rage of 46.
Active Inventory*
700 600
Active Detached Active Attached Active Condo/ Coop
Active Inventory
Ve rsus last ye ar, the total num be r of hom e s available this m onth is lowe r by 13 units or 3%. The total num be r of ac tive inve ntory this Marc h was 414 c om pare d to 427 in Marc h, 2009. This m onth's total of 414 is highe r than the pre vious m onth's total supply of available inve ntory of 349, an inc re ase of 19%.
500 400 300 200 100 -
Median Sale Price
245,000 240,000 235,000 230,000 225,000 220,000 215,000 210,000 205,000 200,000
Mar-09 $230,875
Mar-10 $240,000
Median Sale Price
Last Marc h, the m e dian sale pric e in Ric hm ond City was $230,875. This Marc h, the m e dian sale pric e was $240,000, an inc re ase of 4% or $9,125 c om pare d to last ye ar. The c urre nt m e dian sold pric e is 14% highe r than in Fe bruary.
Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.
*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 Terradatum, CVR, 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 CVR or Long & Foster Real Estate, Inc.."
Focus On: Richmond City, Virginia
Including:
March, 2010
Months of Supply
12.2
30 25 20 15
New Lis tings
150
250 200 150 100 50 ‐ J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Current Contracts
49
120 100 80 60 40 20 ‐ J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Sold Vs . Lis t Price
94.5%
110% 100% 90% 80% 70% 60% Jan‐08 Jul‐08 Jan‐09 Jul‐09 Jan‐10
10 5 ‐ Jan‐08 Jul‐08 Jan‐09 Jul‐09 Jan‐10
Up 15%
Vs. Ye ar A go
Do wn -28%
Vs. Ye ar A go
Do wn -1.0%
Vs. Ye ar A go
Up 43%
Vs. Ye ar A go
Months Of Supply
24.0
30 25 20 15 10 5 16.7
13.0
11.3
11.9
10.6
10.5
10.2
10.5
9.9
8.5
9.1
9.2
9.6
7.6
6.9
7.8
6.9
6.3
6.0
6.9
8.1
10.0
12.2
In Marc h, the re was 12.2 m onths of supply available in Ric hm ond City, c om pare d to 8.5 in Marc h, 2009. That is an inc re ase of 43% ve rsus a ye ar 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.
Months Of Supply
19.7
19.0
25.9
New Listings & Current Contracts
250
Number of New Listings Current Contracts
New Listings & Current Contracts
This m onth the re we re 150 hom e s ne wly liste d for sale in Ric hm ond City c om pare d to 130 in Marc h, 2009, an inc re ase of 15%. The re we re 49 c urre nt c ontrac ts pe nding sale this Marc h c om pare d to 68 a ye ar ago. The num be r of c urre nt c ontrac ts is 11% highe r than last m onth.
200 150 100 50 -
Sale Price/ List Price & DOM
120% 100% 80% 60% 40% 20% 0% Avg Sale / Avg List Average DOM 140 120 100 80 60 40 20 -
Sale Price to List Price Ratio
In Marc h, the ave rage sale pric e in Ric hm ond City was 94.5% pe rc e nt of the ave rage list pric e , whic h is 1.0% lowe r than at this tim e last ye ar.
Days On Market
This m onth, the ave rage num be r of days on m arke t was 76, highe r than the ave rage last ye ar, whic h was 49, an inc re ase of 55%.
*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 Terradatum, CVR, 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 CVR or Long & Foster Real Estate, Inc.."
Including:
March, 2010
Days On Market
76
140 120 100 80 60 40 20 ‐ J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10 J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Units Sold
34
100 80 60 40 20 ‐ J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Active Inventory
414
700 600 500 400 300 200 100 J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Median Sale Price
$240,000
300,000 250,000 200,000 150,000 100,000
Do wn -32%
Vs. Ye ar A go
Do wn -3%
Vs. Ye ar A go
Up 4%
Vs. Ye ar A go
Up 55%
Vs. Ye ar A go
Units Sold*
40 35 30 25 20 15 10 5 Sold Detached Sold Attached Sold Condo/ Coop
Units Sold
The re was a de c re ase in total units sold in Marc h, with 34 sold this m onth in Ric hm ond City ve rsus 35 last m onth, a de c re ase of 3%. This m onth's total units sold was lowe r than at this tim e last ye ar, a de c re ase of 32% ve rsus Marc h, 2009. The c urre nt m onth's total is lowe r than the twe lve m onth ave rage of 46.
Active Inventory*
700 600
Active Detached Active Attached Active Condo/ Coop
Active Inventory
Ve rsus last ye ar, the total num be r of hom e s available this m onth is lowe r by 13 units or 3%. The total num be r of ac tive inve ntory this Marc h was 414 c om pare d to 427 in Marc h, 2009. This m onth's total of 414 is highe r than the pre vious m onth's total supply of available inve ntory of 349, an inc re ase of 19%.
500 400 300 200 100 -
Median Sale Price
245,000 240,000 235,000 230,000 225,000 220,000 215,000 210,000 205,000 200,000
Mar-09 $230,875
Mar-10 $240,000
Median Sale Price
Last Marc h, the m e dian sale pric e in Ric hm ond City was $230,875. This Marc h, the m e dian sale pric e was $240,000, an inc re ase of 4% or $9,125 c om pare d to last ye ar. The c urre nt m e dian sold pric e is 14% highe r than in Fe bruary.
Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.
*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 Terradatum, CVR, 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 CVR or Long & Foster Real Estate, Inc.."
Focus On: Richmond City, Virginia
Including:
March, 2010
Months of Supply
12.2
30 25 20 15
New Lis tings
150
250 200 150 100 50 ‐ J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Current Contracts
49
120 100 80 60 40 20 ‐ J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10
Sold Vs . Lis t Price
94.5%
110% 100% 90% 80% 70% 60% Jan‐08 Jul‐08 Jan‐09 Jul‐09 Jan‐10
10 5 ‐ Jan‐08 Jul‐08 Jan‐09 Jul‐09 Jan‐10
Up 15%
Vs. Ye ar A go
Do wn -28%
Vs. Ye ar A go
Do wn -1.0%
Vs. Ye ar A go
Up 43%
Vs. Ye ar A go
Months Of Supply
24.0
30 25 20 15 10 5 16.7
13.0
11.3
11.9
10.6
10.5
10.2
10.5
9.9
8.5
9.1
9.2
9.6
7.6
6.9
7.8
6.9
6.3
6.0
6.9
8.1
10.0
12.2
In Marc h, the re was 12.2 m onths of supply available in Ric hm ond City, c om pare d to 8.5 in Marc h, 2009. That is an inc re ase of 43% ve rsus a ye ar 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.
Months Of Supply
19.7
19.0
25.9
New Listings & Current Contracts
250
Number of New Listings Current Contracts
New Listings & Current Contracts
This m onth the re we re 150 hom e s ne wly liste d for sale in Ric hm ond City c om pare d to 130 in Marc h, 2009, an inc re ase of 15%. The re we re 49 c urre nt c ontrac ts pe nding sale this Marc h c om pare d to 68 a ye ar ago. The num be r of c urre nt c ontrac ts is 11% highe r than last m onth.
200 150 100 50 -
Sale Price/ List Price & DOM
120% 100% 80% 60% 40% 20% 0% Avg Sale / Avg List Average DOM 140 120 100 80 60 40 20 -
Sale Price to List Price Ratio
In Marc h, the ave rage sale pric e in Ric hm ond City was 94.5% pe rc e nt of the ave rage list pric e , whic h is 1.0% lowe r than at this tim e last ye ar.
Days On Market
This m onth, the ave rage num be r of days on m arke t was 76, highe r than the ave rage last ye ar, whic h was 49, an inc re ase of 55%.
*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 Terradatum, CVR, 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 CVR or Long & Foster Real Estate, Inc.."
