Price Reductions-Richmond Homes for Sale

Blog by Arnold Shuchat | October 20th, 2012

A comparison of activity in the Richmond real estate market over the last week as compared to the week before can give some indication as to the state of affairs in our local market.  Over the last two weeks it looks a little more positive, but two weeks of activity does not necessarilly make a trend.  Here is my snapshot of this recent activity:

2 Weeks Ago % to New Lstings Last Week %

New Listings 128 119

rice Changes 79 62% 67 56%

Sales (units) 32 25% 50 42%

As you can see, the Sale in units percentage, or absorption rate has increased from 25% to 42%. This
could be good or bad depending upon whether you are a buyer or seller!