Current Sales Activities
Richmond's real estate market activities over the past 3 months registered a rebounce in sales. The table below summarized the past 3 months (February 01, 2008 to April 30, 2009) sales of Richmond detached homes. The active listing figures posted were the number of homes listed for sale as of first week of May, 2008.
It is generally accepted that an absorption rate (list/sale ratio) around 6 months inventory represents a neutral or balanced market.
Market improving
Currently, homes below $600,000 were in demand and this could be attributed to these homes being more affordable. Higher sales activities the past 3 months for homes in the $800,001 to $1,000,000 range helped to keep the listing and sale ratio in balance. However, homes over 1.5 million are taking a much longer time to sell.
The latest housing market report for Richmond can be viewed here.
Price Range
|
# Active Listings |
# Av. sale (3 mth) |
No. Months |
| 400,000 - 500,000 |
11
|
14
|
0.78 |
| 500,001 - 600,000 |
83
|
30
|
2.77 |
600,001 - 700,000
|
139 |
22
|
6.32 |
| 700,001 - 800,00 |
84
|
14
|
6.00 |
800,001 - 900.000
|
57
|
7
|
8.14 |
900,001 - 1,00,000
|
50
|
8
|
6.25 |
1,000,001 - 1,500,000
|
117
|
14
|
8.36 |
| 1,500,001 - 2,000,000 |
30
|
3
|
13.00 |
| 2,000,001 - 3,500,000 |
8 |
1
|
8.00 |
Total Sales
|
588
|
113
|
5.20 |
In a buyer's market like today, right pricing is critical to attact buyers. A list of million dollar homes available for sale in Richmond can be viewed here.
If you like to have more information on the current real estate market in Richmond, South Vancouver of Burnaby, kindly contact me at ![]()
![]()
![]()
![]()
![]()
![]()
![]()
![]()
![]()
![]()
![]()
![]()
604-721-4817![]()
or email me.
;)
;)
