Richmond Real Estate Report, February 28 2017

Blog by Arnold Shuchat | March 27th, 2017

This is a quick market pulse report prior to month end.  The big story right now is inventory.  There just isn't anything out there, especially in apartments.

Take a look at these graphs-(1st one is Attached Properties in Richmond):

Detached properties are a different story.  Although inventories are not depleted, the amount of listed stock is listed at much higher prices as compared to previous years.

Homeowners are holding back on listing right now due to the lower than usual absorption rate.  But the average selling price of a SFD in Richmond is hovering around $1.8 Mill and those that are sold are generally on the market for only 17 days as at the end of February.

Detached Pricing:

Apartment pricing History: