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Current: Richmond is in a Stable Market with average Listings, 15 %SOLD rate and a 96% Sell/List Ratio.
(This means that there is an average of $61,500 Discount on a sale from the original list price)
Most Active Range: Homes below $1.15 mill. have 35.5 %SOLD rate.
Least Active Range: Homes between $2.6 mill. - $3.0 mill. have 4.3 %SOLD rate.
History: The Richmond Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $12,999.
The Richmond Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $48,999.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Richmond has 597 homes are for sale and with the 15 %SOLD monthly rate gives us a ~7 months of inventory. 15% of the active listings have reduced their price by $138,079 on average or $100,000 median for the last month. We project Richmond to be a continued Stable market.
September's Real Estate Statistics shows that 100% of Single-Family Homes in Metro Vancouver are in a Seller's Market. This is the 1st time all markets are rising since May 2017. The Average Monthly Prices increased $9,084 which is the highest increase we have seen this year or for any September on record. ON the other hand, Fraser Valley shows $7,079 monthly price increase. Thus, we are forecasting that in the Metro Vancouver Markets will Seller's Market will continue for the coming month.
Currently, Condos are also in a Seller Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was $965. At the same time, 20 out of 28 Townhouse Markets increased an average of $1,412. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every Saturday. 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 Neighborhood.
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