This last 7 days from July 14-20 (as of Saturday morning), there were 63 (75)(55) price changes in Richmond all of which were price reductions.
The average price reduction was $41,727($28,027) or 4%.
Apartment price declines were on average by $12,465 ($14,343) (down 4 straight weeks) or 3% (4%).
Single Family Dwelling declines averaged $81,800 ($50,292) or 6% (4%).
Townhouses fell by $12,800($18,500) or 2% (3%) on average.
Over the week there were 139 (164) (145) new listings of which:
34 (39) were townhouses,
53 (65) were houses (3rd straight week of decline)
1 (2) was a duplex and
49 (64) were apartments.
The absorption rate or ratio of sales to new listings this week was:
52.9% (46%) townhouses,
67.9(32%) the highest in the last 4 weeks for houses,
65% (64%) for apartments.
Here are the top price drops over the last 7 days equal to or in excess of 5%. However a word of caution is necessary. I don't always publish these numbers at the same time such that a tally 7 days back taken in the morning as opposed to late in the day may indicate a reduced count of something that might otherwise be reported later in the day. In addition, while there is a bias in favour of "getting a listing up and running", the compliance with the reporting of sales may be a little more lax such that a report 3 weeks later would likely show more accurate numbers. It follows then that "Sales to Active listing" numbers can be reasonably taken to be understated in these type of real time up to the minute reports as the sales are likely lagging as opposed to the listing numbers.
|Address||LP||Prev LP||Change||% Change||Tot BR||Dwell||Year Blt|
|7231 PARRY ST||1,098,000||1,288,000||190,000||15||4||HOUSE||1975|
|6200 NO 5 RD||1,900,000||2,200,000||300,000||14||4||HOUSE||1976|
|7251 PARRY ST||1,120,000||1,288,000||168,000||13||5||HOUSE||1974|
|7971 BENNETT RD||889,000||998,000||109,000||11||3||HOUSE||1979|
|8711 GARDEN CITY RD||2,288,000||2,488,000||200,000||8||5||HOUSE||2012|
|# 1005 7040 GRANVILLE AV||369,000||398,000||29,000||7||2||APTU||1990|
|8700 CULLEN CR||2,660,000||2,860,000||200,000||7||5||HOUSE||2011|
|5280 CHETWYND AV||1,850,000||1,978,000||128,000||6||5||HOUSE||2012|
|# 107 8040 RYAN RD||164,000||174,800||10,800||6||3||APTU||1970|
|8491 GARDEN CITY RD||798,000||848,000||50,000||6||5||HOUSE||1966|
|8651 CAMBIE RD||799,000||849,000||50,000||6||2||HOUSE||1960|
|# 212 9500 ODLIN RD||468,000||496,000||28,000||6||3||APTU||2011|
|# 310 9500 ODLIN RD||338,000||358,000||20,000||6||2||APTU||2011|
|4471 TRIMARAN DR||689,000||729,000||40,000||5||3||HOUSE||1977|
|10373 SHEPHERD DR||699,000||738,000||39,000||5|
|# 109 9299 TOMICKI AV||483,000||508,000||25,000||5||3||APTU||2009|
|6351 WOODWARDS RD||1,048,000||1,098,000||50,000||5||5||HOUSE||1988|
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