Richmond Real Estate Market Report-Single Family Homes February 2, 2017

Blog by Arnold Shuchat | February 2nd, 2017

A worthwhile real estate market indicator is the level of inventory in the listings market at any given time. The attached graph illustrates this most effectively and looks at listings inventory over the last 3 years.  The current level of inventory is strikingly high at 683 listings.  This compares to the 850+ listings available back in 2012, 2013 when the market was really slow.  However, there were 63 sales in 2013 compared to our 56 in 2017, so the market is only slightly ahead of where it was when it really tanked.  The good news is that these numbers for 2017 likely include the under reporting of the most recent sales, so that there is likely to really have been about 68+ sales as opposed to 56 based on prior periods having also been under reported. Scroll your cursor over the graphs to see the actual data points in each month.