Richmond Housing Report – List Vs Sold September, 2009

October 6, 2009

Richmond Housing Report – List Vs Sold September, 2009
Source: RealtyLink Online

Housing Type Active Listings September Sales Av. 3 mth No. Months Average Price
Detached 515 192 194 2.65 $800,000
Townhouse 310 148 151 2.05 $430,000
Condominiums 610 230 214 2.85 $335,000

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The Richmond total home sale for September, 2009 at 570 units gained 19% over the previous month sale of 479 homes. The supply of detached homes and townhomes were at around the same level, while condo listings grew slightly.

The total active listings at the end of September at 1,435 units were around the sale level as for the previous month of 1,410 units. The supply / demand (list to sale) ratio remained tight around 2.56 months as compared with the previous month at 2.50 months. The past 8 months re-bounce in home sales, and lack of new inventory coming onto the market, helped to maintain home prices at current levels.

The market continued to be very active with many first time home buyers checking on homes listed for sale on the MLS system.

Will current bullish market continue?

There are many home buyers still looking for the right homes to buy. Sales activities remain strong. The fall season and the lack of inventory is expected to dampen sales. While seasonal reduction in sales for the autumn and winter months can be expected, home prices are expected to remain at current level.

You can follow the monthly housing market up-date for Greater Vancouver here. Use this link to view homes available for sale in Richmond.

For more information on Richmond real estate, you are welcome to contact me at 604-721-4817 or email me.

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