March Market Update
View the below price analysis for March 2018 in Richmond. It includes detailed information on detached homes, condos and townhomes. Check out the current market trends!
Market Summary for Detached
- Balanced market at 12% Sales Ratio average (11% is a Buyers market)
- Homes are selling on average 5% below list price
- Most Active Price Band** $1 mil to $1.25 mil with average 75% Sales Ratio (Sellers market speed)
- Buyers Best Bet** Homes between $2.5 mil to $3.5 mil, Granville and minimum 7 bedroom properties
- Sellers Best Bet** Selling homes in Hamilton, West Wind and 3 to 4 bedroom properties
Market Summary for Attached
- Sellers market at 39% Sales Ratio average (3.9 in 10 homes selling rate)
- Homes are selling on average at list price
- Most Active Price Band** $400,000 to $500,000 with average >100% Sales Ratio (Sellers market speed)
- Buyers Best Bet** Homes between $1.5 mil to $1.75 mil, Quilchena, Woodwards and 3 bedroom properties
- Sellers Best Bet** Selling homes in Riverdale, Terra Nova and up to 1 bedroom properties
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Source: SnapStats® Publishing Co. Graphs represent the data comparison between March 2018 and February 2018.