This last 7 days from July 21-27 (as of Saturday morning), there were 67 (63) price changes in Richmond 63 of which were price reductions.
The average price reduction was $39,645 ($41,727) or 4%.
Apartment price declines were on average by $15,033($12,465) or 3% (3%).
Single Family Dwelling declines averaged $67,922 ($81,800) or 5% (6%).
Townhouses fell by $15,033 ($12,800) or 3% (2%) on average.
Over the week there were156 (139) new listings of which:
32 (34) were townhouses,
58 (57) were houses
3 (1) were a duplex and
63 (49) were apartments.
The absorption rate or ratio of sales to new listings this week was:
72% (52.9%) townhouses,
53% (67.9) houses,
67% (65%) 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||Yr Built|
|# 308 7080 NO 3 RD||416,000||499,000||83,000||17||2||APTU||2009|
|10040 RAILWAY AV||1,090,000||1,280,000||190,000||15||5||HOUSE||1994|
|9091 PINEWELL CR||1,218,000||1,398,000||180,000||13||5||HOUSE||1999|
|8820 NO 4 RD||1,399,000||1,580,000||181,000||11||5||HACR||2001|
|# 324 8500 ACKROYD RD||180,000||199,900||19,900||10||1||APTU||1984|
|# 901 5911 MINORU BV||65,000||72,000||7,000||10||1||APTU||1999|
|# 115 5800 ANDREWS RD||299,000||328,000||29,000||9||1||APTU||1997|
|# 1803 3111 CORVETTE WY||1,098,000||1,198,000||100,000||8||2||APTU||2010|
|# 7006 8080 GRANVILLE AV||555,000||599,000||44,000||7||2||APTU||2009|
|4851 WINTERGREEN AV||1,850,000||1,988,000||138,000||7||5||HOUSE||2012|
|10588 SPRINGWOOD CR||2,050,000||2,199,000||149,000||7||3||HOUSE||2013|
|7920 THORMANBY CR||2,238,000||2,388,000||150,000||6||5||HOUSE||2013|
|8851 WHEELER RD||1,780,000||1,890,000||110,000||6||5||HOUSE||2006|
|10528 SPRINGWOOD CR||1,980,000||2,100,000||120,000||6||4||HOUSE||2013|
|10351 FRESHWATER DR||849,000||899,900||50,900||6||4||HOUSE||1975|
|10420 HOLLYMOUNT DR||828,000||875,000||47,000||5||3||HOUSE||1979|
|# 12 9133 SILLS AV||538,000||568,000||30,000||5||3||TWNHS||2003|
|3251 FRANCIS RD||758,000||799,888||41,888||5||3||HOUSE||1958|
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