Great Deals on Richmond Real Estate!

Blog by Arnold Shuchat | July 29th, 2012

Great Deals on Richmond Real Estate are finally here for the taking!

There has been a striking reduction in real estate sales in Richmond in the last month as compared to June 2012.  Houses keep being listed, but only about 1 in 5 on the market is selling.  After months of hope on the part of sellers that resisting price declines is the way to go, sellers are finally caving and offering substantial price reductions.  This is the time to start shopping.  With the summer real estate doldrums in full effect, buying a house will be alot more pleasant than in years passed, and buyers can expect to save hundreds of thousands of dollars!

Richmond Homes For Sale - July 30, 2012

There are currently 1177 Detached homes for sale in the Richmond area up from 602 homes in early July! 

Price Range

The Richmond listings range in price from $485,000 for a 1728 square foot, 3 bedroom house in the East Richmond area at 17111 Westminster Hwy, to $16,800,000 for a 6 bedroom, 7,512 square foot mansion in the Gilmore area at 13251No. 4 Rd. There is a little bit of land with this last house, with about 27 acres...

Current Listings

From July 16, 2012 through July 30, 2012 there have been 131 new single family home listings in the Richmond area for sale ranging in price from $500,000 for a 1131 square foot, 3 bedroom house in the Quilchena area at 4040 Tyson Pl. to $3,580,000 for a 5 bedroom, 4590 square foot house in the Broadmoor area at 10091 Deagle Rd. 

The average price of a house for sale is $1,396,368 and the median price now is:$1,190,000

Days on Market

The average days on market is 93 and the median days on market is 68 days.

Price Increases and Decreases

There have been 3 price increases and 204 price reductions in the last 14 days.