Market Updates | September 2018

September Market Update

View the below price analysis for September 2018 in Richmond. It includes detailed information on detached homes, condos and townhomes. Check out the current market trends!

Market Summary for Detached

  • Buyers Market at 8% Sales Ratio average (8 in 100 homes selling rate)
  • Homes are selling on average 9% below list price
  • Most Active Price Band”* $1 mil to $1.25 mil with average 36% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.75 mil to $2 mil and $2.5 mil to $2.75mil, Ironwood and up to 2 bedroom properties
  • Sellers Best Bet** Selling homes in Hamilton, McLennan North, Steveston Village and 3 to 4 bedroom properties
**with a minimum inventory of 10 in most instances
Detached | Richmond Real Estate Market Update

Market Summary for Attached

  • Balanced Market at 14% Sales Ratio average (1.4 in 10 homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band** $300,000 to $400,000 with average 64% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 mil, Bridgeport and minimum 4 bedroom properties
  • Sellers Best Bet** Selling homes in Steveston South and up to 1 bedroom properties
**with a minimum inventory of 10 in most instances
Attached | Richmond Real Estate Market Update

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Source: SnapStats® Publishing Co. Graphs represent the data comparison between Sept 2018 and Aug 2018.