Richmond Single Family Detached Homes Market Update For April, 2022
Richmond's detached homes made a fairly strong run up in demand resulting in a spike up in its average selling price. It remain in the Seller's market from October, 2021 to March 2022. However, slowing sales the past few months had resulted in its Sales-to-Active Ratio to drop back to a Balanced Market. If more supply are coming into the market and sales remain at current level, there is a likelihood for Richmond detached homes to soften, or even dip below to a Buyer's Market.
As of March 13, 2022 out of a total of 517 detached homes listed for sale, there are 19 homes listed over $6.0 million with the highest 2 homes being listed at $30.0 million for a 124 acres acreage propety with 25 acres planted with blueberries followed by the second highest priced property at $19.0 million which has a 4-year old new home with 22,317 sq ft living space on the property.
There are 46 homes priced from $4.0 to $6.0 million, 101 homes listed from $3.0 to $4.0 million, 204 homes from $2.0 to $3.0 million and 153 homes are priced below $2.0 million. There are just 22 homes priced under $1.5 million and the lowest priced landed homes are 2 older homes around $1.15 million range. Entry level detached homes currently available for sale in Richmond that have some decent living spaces are priced in the $1.39 million range. You can do your research by clicking thiis link to view Richmond single family detached homes for sale on the market.
Should you have any questions about the housing market in Richmond - whether it is on detached homes, townhouses or condos, you are welcome to contact me at 604-721-4817 (James Wong) or email me via my email link here for the latest hosuing market situation.