Current: Richmond: is in a Stable Market with average Listings, 10 %SOLD rate and a 96% Sell/List Ratio. (This means that there is an average of a $76,900 Discount on a sale from the original list price)
Most Active Range: : Homes between $1.1 mill. - $1.3 mill. have 40.0 %SOLD rate.
Least Active Range: Homes above $3 mill. have 4.0 %SOLD rate.
History: The Richmond Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $59,448.
The Richmond Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $84,829.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Richmond has 728 homes are for sale and with the 10 %SOLD monthly rate gives us a ~10 months of inventory. 7% of the active listings have reduced their price by $105,311 on average or $90,000 median for the last month. We project Richmond to be a continued stable/sellers market.
September's Real Estate Statistics show our Markets have NORMALIZED with 49% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $10,887, which is less than the $4,006 decrease that we saw in the month prior. Overall, Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $2,054, which is a reduction of the $3,386 increase that we saw in the month prior. This Average Fraser Valley Markets are still stronger with a $2,054 monthly increase.
Currently, 61% of the Attached Markets are still increasing in Greater Vancouver (Lower Mainland) (52 of 58 Markets). We are forecasting the beginning of Buyers Market across all Housing Markets. We continue to analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighbourhood.