Richmond Housing Report – March, 2017

April 17, 2017

Richmond list/sale ratio housing report
Market Turning Bullish

The list to sale ratios for the 3 housing types in Richmond turned more bullish in March. Notably, Richmond detached homes started to turn around in March to head up to the upper band of a ‘balanced market’.
Price-wise, detached homes in Richmond was hovering around the $1.57 million range compared to its price around $1.4 million a year ago in March, 2016 and the peak around $1.72 million in around the middle of 2016.

Richmond townhouse remain in good demand and townhouse prices continued to go higher at a moderate rate.

Richmond condo demand and prices continued to experience huge gain, reaching all time high in demand and surged significantly in price gain month-over-month. Compared to its early 2016 price around $400,000, the March price was just shy of $500,000.

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