Price Reductions-Richmond Homes for Sale

Blog by Arnold Shuchat | January 18th, 2013

As of January 18, 2013 at the time of this blog writing, there were 69 price changes on Richmond property in the last 14 days of which 63 were price reductions and 6 were price increases.  The average price change was a 4% decrease including the data from the total population.  The largest percentage decline was 12% or $28,000 on a condo now priced at $210,000 and the largest absolute price decrease was $150,000 on a 5 BR 2011 home now asking $1,938,000.
The rate of new listings as expected, increased in the new year to about 27 per day for a total of 383 new listings during this period.